The UK Cabinet has drafted a bill to withdraw cryptocurrencies

The United Kingdom plans not only to recognize Stablecoins as a means of payment, but also to introduce a mechanism for confiscating digital currencies from criminals. The government introduced the bill this week.
This document became part of London’s program to strengthen control over the crypto market. At the same time, the UK authorities promise to turn the kingdom into a crypto-hub, where blockchain startups and exchanges will be able to work under comfortable conditions.
The Ministry of Finance, the Ministry of Internal Affairs and the Department of Business Development, Industry and Energy were involved in the development of the bill. Its first reading was held the day before in the House of Commons. It gives law enforcement authorities the right to confiscate cryptocurrency if it was used in the legalization of criminal proceeds and in cybercrime.

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