Sarah Wood writes for the New Law Journal
- This article considers the new powers contained within Pt 5 of the Proceeds of Crime Act 2002, and whether UK law enforcement should harness the cryptocurrency Tether’s ‘burn-and-remint’ mechanism to help victims to recover stolen assets.
- The authors consider that the criteria to be satisfied in order for these new powers to be used are met, and moreover that there is likely to be a willingness by both law enforcement and the courts to adopt a purposive interpretation to these powers.
With effect from 26 April 2024, the Economic Crime and Corporate Transparency Act 2023 introduced new powers into Pt 5 of the Proceeds of Crime Act 2002 (POCA 2002) providing for the seizure, detention, freezing and forfeiture of cryptoassets and related items.
To read this article in full, please go to the NLJ website here. (A sign-in is required, however the article can be accessed in full for free with no marketing sign-ups required).
Sarah Wood is an experienced and highly accomplished barrister who specialises in Proceeds of Crime & Asset Forfeiture, Business Crime, Private Prosecutions, and Financial Remedies cases in the Family Court involving high-value assets and complex financial arrangements.
Sarah is Joint Head of the Business Crime Team at 5SAH. She is ranked in The Legal 500 (Tier 1) and Chambers & Partners (Tier 2) for her Confiscation & Asset Recovery work. Sarah is also recognised in Chambers & Partners for Financial Crime - Private Prosecutions, in the exclusive spotlight table.
