Victoria Police Empowered to Seize Criminals' Crypto Assets

 Victoria Police in Australia will reportedly receive new powers allowing them to seize cryptocurrencies and digital assets from criminals in the future.

They will also gain access to order cryptocurrency platforms to hand over information about the criminals and seize their digital wallets.

According to the statement of the Premier of Victoria, Daniel Andrews, a new law will be introduced to Parliament under the Major Crime and Community Safety Legislation Amendment Bill 2022 with the objective of bringing down organized crime in the country.

Authorities are expected to receive new legislation for greater powers to identify and seize the digital assets of organized criminals.

Police will also be empowered to obtain electronic data during search warrants and more easily obtain criminal property from victims.

In addition, the police need to be properly trained in the technology of confiscation and protecting the secret keys of digital wallets.

Accordingly, the police will get strong evidence when the criminals make transactions in digital assets. This is because the information in the public ledger is very difficult to change.

According to the statement of the Prime Minister of Victoria, criminals are always in the process of developing their strategies. Therefore, the police need to act quickly to deal with cryptocurrency crimes with the use of this new technology that will develop in the future.

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