Let us take on bitcoin gangs, urge police | News

Scotland Yard detectives want new laws to let them freeze the cryptocurrency assets of criminals in the same way they can stop them transferring funds.

The Met is lobbying the government to change the legislation to make it tougher for criminals to transfer cryptocurrency, which is used by money launderers.

Mick Gallagher, detective chief superintendent at the Met’s central specialist crime command, said that cryptocurrency such as bitcoin could not always be frozen or seized because of outdated legislation.

He told The Times: “The conversations that we’re having is about how we align cryptocurrency to the same kind of approach that we have about cash-based criminality. Cryptocurrency is invisible, it’s instant, it goes around the world, it’s not tangible.

“One of the responses we