Victorian State Parliament Moves to Give Police Broader Power to Seize Crypto
Categories: Crypto News US
VictorianState Parliament Moves to Give Police Broader Power to Seize Crypto
The Australian state of Victoria this week introduced new laws allowingthe confiscation of assets, including crypto, if criminals are caught with gunsor drugs.
Policeinvested with 'more power'
The Justice Legislation Amendment (Police and Other Matters)Bill 2022, introduced in Victoria's parliament, will tighten the state'sconfiscation laws and give authorities more power to investigate and confiscatecrime proceeds. Under the law, a conviction for possessing a large amount offirearms as well as drug and sex offenses would trigger the automaticconfiscation of assets, including cryptocurrencies.
CryptoExchanges Forced to Provide Customer Information
Cryptocurrency exchanges will be forced to hand over information aboutsuspects in the same way that banks are able to confiscate digital wallets.Powers to retrieve electronic data from computers and storage devices, andauthorize specific merchants such as locksmiths to search the property of acriminal, will also be provided.
Intelligence officerswill no longer need the approval of the Chief Commissioner of Police toinvestigate online predators.This has made it easy for the police to assume afake identity to infiltrate online child grooming profiles. The reforms willstreamline court surveillance of search warrants, although Victoria Police haveissued assurances that "security measures will remain in place".
These would include court directives that the confiscated items –including cryptocurrencies – be returned to the owners.Victims of crime will also be eligible for disproportionate compensation forthe property seized. Whether this also includes crypto was not specified.