Catenaa, Friday, April 11, 2025-UK authorities have frozen approximately £6 million ($7.76 million) in cryptocurrency tied to illicit activities since 2024, as part of a broader crackdown on crypto-related crime. The enforcement initiative, which began last April, grants law enforcement and the HM Revenue and Customs (HMRC) the power to freeze suspicious wallets for up to three years.
The largest freeze order, worth £1.5 million ($1.94 million), was issued in March 2025 after a court ruling in Newcastle Upon Tyne Magistrates’ Court. This order targeted a Coinbase-hosted wallet suspected of housing illicit funds. Legal experts note that while these figures are significant, the full impact of the new regulatory measures will take time to fully materialize.
The UK government’s focus on crypto crime has intensified in recent months, with increased resources being directed towards combating money laundering and other illicit activities within the sector. Legal experts predict that crypto freezing orders will rise substantially in the coming months, especially as investigations into organized crime continue.
In addition to these enforcement efforts, the UK has introduced legislative measures, such as the Crime and Policing Bill, to further enhance authorities’ ability to confiscate crypto assets linked to criminal activity. The Financial Conduct Authority (FCA) has also proposed tighter crypto regulations to mitigate risks and ensure more robust oversight.
As the crypto landscape evolves, UK authorities are working to strengthen their regulatory framework to keep pace with the sector’s rapid development.
