Part 1 Amendments of Part 5 of the Proceeds of Crime Act 2002
Economic Crime and Corporate Transparency Act 2023 (2023 c 56) | Legislation

SCHEDULE 9 Cryptoassets: Civil Recovery

Section 180

Part 1 Amendments of Part 5 of the Proceeds of Crime Act 2002

1

In Part 5 of the Proceeds of Crime Act 2002 (civil recovery of the proceeds etc of unlawful conduct), after section 303Z19 insert—

“Chapter 3C
Recovery of Cryptoassets: Searches, Seizure and Detention
Definitions
303´Ü20Ìý¶Ù±ð´Ú¾±²Ô¾±³Ù¾±´Ç²Ô²õ

(1)     In this Part—

(a)     “cryptoasset†means a cryptographically secured digital representation of value or contractual rights that uses a form of distributed ledger technology and can be transferred, stored or traded electronically;

(b)     “crypto wallet†means—

(i)     software,

(ii)     hardware,

(iii)     a physical item, or

(iv)     any combination of the things mentioned in sub-paragraphs (i) to (iii),

which is used to store the cryptographic private key that allows cryptoassets to be accessed.

(2)     The Secretary of State may by regulations amend the definitions of “cryptoasset†and “crypto wallet†in this section.

(3)     The Secretary of State must consult the Scottish Ministers and the Department of Justice before making regulations under subsection (2).

(4)     In this Chapter—

(a)     “enforcement officer†means—

(i)     an officer of Revenue and Customs,

(ii)     a constable,

(iii)     an SFO officer, or

(iv)     an accredited financial

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