In the UK, a criminal was banned from owning cryptocurrencies

Authorities will ban drug trafficker Curtis Warren from possessing and using cryptocurrencies after his release from prison. the 59-year-old man served 13 years behind bars on charges of smuggling banned substances. According to The Sunday Times, Warren will only be able to have up to £1,000 in cash, one phone, and a SIM card. These items can be handed over to law enforcement as soon as the police request them. Warren will also be banned from using WhatsApp and Facebook Messenger.

In March, Massachusetts law enforcement officers seized 59 BTC worth $ 2.3 million from a drug dealer. The offender was sentenced to eight years in prison, and after his release, he will be registered with law enforcement for another three years.

Cryptocurrency fraud crimes are still leading the way in the financial sector. According to the UK’s Financial Conduct Authority (FCA), cryptocurrency fraud ranked first in terms of the number of complaints from affected investors. Between April 1, 2021, and March 31, 2022, the FCA received 8,568 complaints of cryptocurrency-related fraud. At the end of September, we reported that the British government plans to expand the powers of the authorities to combat cryptocurrency crimes — officials have decided to simplify the procedure for seizing and freezing digital assets.