• BTC Dominance: %
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

Victorian police to get ‘greater power’ to seize crypto assets from criminals

Jon Hartney by Jon Hartney
August 4, 2022
in Bitcoin, Blockchain, Business, Market
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

The new bill will also compel cryptocurrency exchanges to hand over information that could assist police in criminal investigations.

Victorian Police in Australia will soon be granted new powers to seize cryptocurrency and digital assets from criminals, as well as compel platforms to hand over information about suspects.

According to a statement released by Victorian premier Daniel Andrews on Aug. 2, new laws were introduced to parliament on Tuesday under the Major Crime and Community Safety Legislation Amendment Bill 2022, with the aim of cracking down on organized crime in the state.

Related articles

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

The new bill is expected to give authorities “greater power” to identify and seize digital assets, in response to the growing use of digital cryptocurrencies by organized crime.

The laws will uphold also require crypto exchanges disclose information to assist with criminal investigations in the same way that banks would.

“They will be able to compel cryptocurrency platforms to hand over information about suspects like banks currently must, and seize digital ‘wallets’.”

It will also give police greater search powers to obtain electronic data when executing search warrants and make the criminal’s “forfeited property” more easily available to compensate victims of the crime.

Speaking to Cointelegraph, Michael Bacina, a digital asset specialist at Piper Alderman, said that as the wording of the Bill has not yet been made public, one of the challenges he sees is around legislating for digital assets when it cuts across state and federal borders.

“A challenge of legislating for digital assets is that state jurisdiction often stops at the border, so ensuring there is consistency of approach between different states and countries, is paramount.”

Bacina also noted that police will need “proper training in the technology of seizure and securing private keys of digital wallets,” but also noted that criminals transacting in digital assets “provides a valuable tool for police in combatting crime, as transactions leave an immutable trail of evidence on a public ledger which is extraordinarily difficult to alter after the fact.”

Victorian Minister for Police, Anthony Carbines acknowledged that criminals are evolving their strategies, noting “we need to be just as quick in empowering our police to respond to new ways of offending.”

Related: 74% of public agencies feel under-equipped for crypto investigations: Report

Earlier this year, popular crypto monitoring tool, Chainalysis estimates that at least $10 billion worth of cryptocurrency is held by wallet addresses associated with illicit activity as of early 2022.

Bacina however noted that the analytics firm also reports that illicit usage is at its lowest proportion in the crypto asset ecosystem, “so further reducing the illicit usage of digital assets can only instill greater confidence in the digital asset and cryptocurrency ecosystem.”

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

Bitcoin derivatives data shows room for BTC price to move higher this week

by Jon Hartney
January 23, 2023
0

BTC options data suggest that the Bitcoin price rally still has legs, even with wider economic concerns growing and the

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

by Jon Hartney
January 22, 2023
0

BTC could take a break from its sharp rally and if BTC price bounces off underlying support, APE, MANA, AAVE...

Genesis bankruptcy case scheduled for first hearing

by Jon Hartney
January 22, 2023
0

The first hearing in Genesis Capital's bankruptcy case will be held on January 23, according to court filings

Terra lending protocol Mars to launch mainnet

by Jon Hartney
January 22, 2023
0

The Mars Hub will launch an independent Cosmos application chain and issue MARS to users who hold the token during...

Central African Republic eyes legal framework for crypto adoption

by Jon Hartney
January 22, 2023
0

A 15-member committee is tasked with working on a legal framework that will allow cryptocurrencies to operate in

Load More
  • Trending
  • Comments
  • Latest

Ethereum Classic gets ‘endorsement’ from Vitalik Buterin, but ETC price still risks 50% crash

July 27, 2022

Critique on Helium’s $6.5K monthly revenue causes a stir

July 28, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

July 7, 2022

Cardano Vasil hard fork hit with another delay for several weeks

July 29, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0

Crypto owners banned from working on US Government crypto policies

0

Korean startup Uprise lost $20M shorting LUNC

0

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

Genesis bankruptcy case scheduled for first hearing

January 22, 2023

Terra lending protocol Mars to launch mainnet

January 22, 2023

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • Bitcoin derivatives data shows room for BTC price to move higher this week January 23, 2023
  • Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher January 22, 2023
  • Genesis bankruptcy case scheduled for first hearing January 22, 2023
  • Terra lending protocol Mars to launch mainnet January 22, 2023
  • Central African Republic eyes legal framework for crypto adoption January 22, 2023

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • bitcoinBitcoin(BTC)$23,353.000.12%
  • ethereumEthereum(ETH)$1,665.670.83%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.14%
  • binancecoinBNB(BNB)$331.821.21%
  • usd-coinUSD Coin(USDC)$1.00-0.19%
  • rippleXRP(XRP)$0.4104040.33%
  • Binance USDBinance USD(BUSD)$1.00-0.11%
  • cardanoCardano(ADA)$0.399195-0.12%
  • dogecoinDogecoin(DOGE)$0.0954332.00%
  • matic-networkPolygon(MATIC)$1.241.14%
  • OKBOKB(OKB)$44.006.27%
  • SolanaSolana(SOL)$24.39-0.25%
  • Shiba InuShiba Inu(SHIB)$0.0000157.91%
  • Lido Staked EtherLido Staked Ether(STETH)$1,661.160.84%
  • polkadotPolkadot(DOT)$6.860.01%
  • litecoinLitecoin(LTC)$98.52-0.22%
  • AvalancheAvalanche(AVAX)$20.90-1.15%
  • tronTRON(TRX)$0.0644231.60%
  • UniswapUniswap(UNI)$7.262.22%
  • daiDai(DAI)$1.00-0.15%
  • cosmosCosmos Hub(ATOM)$14.66-0.62%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$23,356.000.16%
  • chainlinkChainlink(LINK)$7.210.44%
  • ToncoinToncoin(TON)$2.33-0.01%
  • ethereum-classicEthereum Classic(ETC)$23.802.27%
  • leo-tokenLEO Token(LEO)$3.501.55%
  • moneroMonero(XMR)$173.070.61%
  • AptosAptos(APT)$16.661.05%
  • bitcoin-cashBitcoin Cash(BCH)$137.260.16%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.09%
  • stellarStellar(XLM)$0.0929520.37%
  • ApeCoinApeCoin(APE)$5.88-0.77%
  • NEAR ProtocolNEAR Protocol(NEAR)$2.522.75%
  • CronosCronos(CRO)$0.0836721.93%
  • filecoinFilecoin(FIL)$5.53-0.73%
  • QuantQuant(QNT)$142.94-0.84%
  • algorandAlgorand(ALGO)$0.2684770.25%
  • HederaHedera(HBAR)$0.0732433.42%
  • Lido DAOLido DAO(LDO)$2.19-3.83%
  • vechainVeChain(VET)$0.0248851.24%
  • FantomFantom(FTM)$0.61-2.36%
  • Internet ComputerInternet Computer(ICP)$5.942.57%
  • decentralandDecentraland(MANA)$0.78-0.26%
  • The SandboxThe Sandbox(SAND)$0.771.99%
  • Axie InfinityAxie Infinity(AXS)$11.835.01%
  • AaveAave(AAVE)$88.73-1.21%
  • eosEOS(EOS)$1.101.11%
  • FlowFlow(FLOW)$1.160.00%
  • MultiversXMultiversX(EGLD)$46.602.02%
  • Terra Luna ClassicTerra Luna Classic(LUNC)$0.000194-0.89%
  • theta-tokenTheta Network(THETA)$1.143.30%
  • tezosTezos(XTZ)$1.193.83%
  • FraxFrax(FRAX)$1.00-0.22%
  • The GraphThe Graph(GRT)$0.11072811.75%
  • true-usdTrueUSD(TUSD)$1.00-0.18%
  • huobi-tokenHuobi(HT)$5.783.13%
  • paxos-standardPax Dollar(USDP)$1.00-0.24%
  • kucoin-sharesKuCoin(KCS)$8.811.07%
  • havvenSynthetix Network(SNX)$2.684.33%
  • bitcoin-cash-svBitcoin SV(BSV)$43.390.25%
  • Curve DAOCurve DAO(CRV)$1.09-0.90%
  • ChilizChiliz(CHZ)$0.1453540.43%
  • PancakeSwapPancakeSwap(CAKE)$4.565.98%
  • Rocket PoolRocket Pool(RPL)$40.370.27%
  • Frax ShareFrax Share(FXS)$10.35-4.30%
  • eCasheCash(XEC)$0.0000391.21%
  • BitTorrentBitTorrent(BTT)$0.0000011.26%
  • ImmutableXImmutableX(IMX)$0.91-2.96%
  • USDDUSDD(USDD)$0.99-0.13%
  • Trust WalletTrust Wallet(TWT)$1.690.98%
  • iotaIOTA(MIOTA)$0.2488494.34%
  • BitDAOBitDAO(BIT)$0.580.41%
  • Mina ProtocolMina Protocol(MINA)$0.83-1.59%
  • dashDash(DASH)$60.91-1.13%
  • KlaytnKlaytn(KLAY)$0.2136521.38%
  • GateGate(GT)$4.49-0.71%
  • OptimismOptimism(OP)$2.99-0.71%
  • makerMaker(MKR)$704.531.56%
  • neoNEO(NEO)$8.79-0.51%
  • cUSDCcUSDC(CUSDC)$0.0227400.01%
  • ArweaveArweave(AR)$11.93-1.92%
  • zcashZcash(ZEC)$46.38-0.10%
  • GMXGMX(GMX)$70.10-4.99%
  • OKCOKC(OKT)$32.798.42%
  • RadixRadix(XRD)$0.057313-3.08%
  • gemini-dollarGemini Dollar(GUSD)$1.00-0.14%
  • cDAIcDAI(CDAI)$0.0221800.08%
  • THORChainTHORChain(RUNE)$1.86-0.79%
  • OsmosisOsmosis(OSMO)$1.05-4.10%
  • RenderRender(RNDR)$1.817.99%
  • Tokenize XchangeTokenize Xchange(TKX)$6.800.95%
  • WhiteBIT TokenWhiteBIT Token(WBT)$4.10-0.39%
  • loopringLoopring(LRC)$0.402870-1.37%
  • PAX GoldPAX Gold(PAXG)$1,861.29-0.18%
  • zilliqaZilliqa(ZIL)$0.030358-2.43%
  • Baby Doge CoinBaby Doge Coin(BABYDOGE)$0.00000045.01%
  • enjincoinEnjin Coin(ENJ)$0.4858743.58%
  • Convex FinanceConvex Finance(CVX)$6.52-1.19%
  • 1inch1inch(1INCH)$0.619.42%