On Oct. 17, UK MoJ issued rules re magistrates' courts and cryptos.
UK MoJ issued the following rules: Magistrates' courts (conversion of cryptoassets) rules 2024 (StIn 2024/1040) and explanatory memo; Magistrates' courts (conversion of terrorist cryptoassets) rules 2024 (StIn 2024/1041) and explanatory memo.
Magistrates' courts (detention, freezing and forfeiture of terrorist cryptoassets, and miscellaneous amendments) rules 2024 (StIn 2024/1042) and explanatory memo.
Magistrates' courts (detention, freezing and forfeiture of cryptoassets, and miscellaneous amendments) rules 2024 (StIn 2024/1043) and explanatory memo.
StIn 2024/1040 prescribes procedure to be followed for applications to a magistrates’ court for orders under POCA (UK) Pt 5 Ch 3F (added by ECCTA (UK) 2023 Sch 9).
Concerns the conversion into money of cryptoassets (as defined by POCA (UK) S 303Z21(2)) that are detained/frozen on basis that there are reasonable grounds to suspect they are either recoverable property or intended for use in unlawful conduct.
StIn 2024/1041 prescribes procedure to be followed for applications to a magistrates’ court for orders under ATCSA (UK) 2001 Sch 1 Pt 4BD (added by ECCTA (UK) Sch 10).
Concerns the conversion into money of cryptoassets (as defined by ATCSA 2001 (UK) Sch 1 para 10Z7A) that are detained/frozen on basis of reasonable grounds to suspect that they are intended to be used for purposes of terrorism, consist of resources of a proscribed organisation, or are or represent property obtained through terrorism.
Freezing, Detaining and Forfeiting Cryptos
StIn 2024/1042 prescribes procedure for applications to a magistrates’ court for orders under ATCSA (UK) 2001 Sch 1 Pts 4BA-4BC (added by ECCTA (UK) 2023 Sch 10).
Concern seizure/detention of terrorist cryptoasset-related items, terrorist cryptoassets (defined by ATCSA (UK) 2001 Sch 1 para 10Z7A), and for freezing/forfeiture of such cryptos, which are either recoverable property or intended for use in unlawful conduct.
StIn 2024/1043 prescribes procedure for applications to a magistrates’ court for orders under POCA (UK) Pt 5 Ch 3C, 3D, 3E (added by ECCTA (UK) 2023 Sch 9).
Concern seizure/detention of cryptoasset-related items and cryptoassets (defined by POCA (UK) S 303Z20(1) and 303Z21(2)), and freezing and forfeiture of cryptoassets, that are either recoverable property or intended for use in unlawful conduct.
