UK proposes bill to crack down on illegal crypto activity

The U.K. government has announced a bill to make it easier for law enforcement agencies to seize, freeze, and recover cryptocurrency assets used in criminal activities such as money laundering, drugs, and cybercrime. The bill was designed to build on the earlier Economic Crimes (Transparency and Enforcement) Act, which helped regulators sanction Russia and freeze related assets in the country. Regulators have been concerned that some Russians have been using cryptocurrencies to evade sanctions imposed after the invasion of Ukraine. (Coindesk)