Ethereum News Daily Official TheBitTimes.com

Key takeaways The UK House of Lords has passed a bill to seize stolen cryptocurrencies. The bill targets monetary proceeds from fraud or other financial crimes. The UK government could seize stolen cryptocurrencies A bill that seeks to expand the ability of UK authorities to target illicit cryptocurrency usage has been passed for approval by the House of Lords.  The bill, dubbed the Economic Crime and Corporate Transparency Bill, was introduced a year ago. The bill seeks to tackle crypto-related financial crimes. Since the introduction of the bill, it has gone from the House of Commons to the House of Lords and is now at the final stage of approval.  Per the bill, the authorities will target monetary proceeds from fraud or other financial crimes. Furthermore, the bill also seeks to introduce provisions for corporate transparency and overseas business registrations. Now that the bill is at its final stage , the House of Commons will vote to a...

Crypto assets stolen by North Korea’s elite hacking groups and used to fund illicit weapons programs may soon be tracked and frozen by the South Korean government as it gears up to submit a new bill. According to several South Korea n government sources who spoke to Korea JoongAng Daily, officials have been working on legislation for 10 months that aims to “track and neutralize virtual coins and other crypto currency assets stolen by the North through hacking,” according to one insider. It has already gone through a round of revisions to include “practical measures to bolster national security ” at the order of president Yoon Suk Yeol, several said. One higher-up who asked to remain anonymous told the outlet that the bill will reflect the president’s concerns that “the country’s cybersecurity framework urgently needs repair” after it was “allowed…to fall into ruin in order to avoid offending North Korea” under its las...