July 5 (Cointime) - Members of the upper house of the British Parliament are pushing for legislation aimed at expanding the authority’s ability to crack down on cryptocurrencies used for illicit purposes. On July 4, the House of Lords of the UK Parliament held its third review of the Economic Crime and Corporate Transparency Bill, which was introduced in September 2022 to strengthen law enforcement agencies to combat cryptocurrency-related financial crimes. power.

Lawmakers in the House of Lords did not appear to propose any changes related to cryptocurrency enforcement during their latest deliberations, describing the proposals as “minor” or “finishing” amendments. The June 27 version of the bill included provisions to amend the existing framework to allow authorities more flexibility to confiscate and civilly recover crypto assets. In addition, the legislation clarifies the government's authority over digital assets "intended to be used for terrorist purposes" or related reasons. British lawmakers will consider all amendments to the bill before it can pass royal assent into law.