How will the Economic Crime and Corporate Transparency Act affect crypto investors?
While many businesses in the UK are caught up in speculating about what a new Labour government could mean for them, those in the crypto space should take care not to miss the biggest story that has arisen already this year. The Economic Crime and Corporate Transparency Act 2023 (ECCT) entered into force at the start of the year and brought with it a raft of new powers for law enforcement agencies and investigators. Among the primary aims of the legislation was to help tackle fraud and criminal financing involving cryptocurrencies and cryptoassets, but it may make it harder to protect your crypto wallet.