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Home » Victoria Police To Have New Crypto Asset Seizure Powers

Victoria Police To Have New Crypto Asset Seizure Powers

Van Tran by Van Tran
August 26, 2022
in Policy & Regulation
Victoria Police to Have New Crypto Asset Seizure Powers
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Victoria Police will soon be able to seize cryptocurrency and other digital assets, and officers will assume false identities more quickly to apprehend offenders.

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With today’s introduction of the Major Crime and Community Safety Legislation Amendment Bill 2022, the state government intends to expand Victoria Police’s ability to combat organised crime considerably.

The new legislation enhances the police’s ability to investigate organised crime, collect criminal proceeds, and destroy the black market for organised crime.

The police can take digital assets, such as digital wallets and compel cryptocurrency platforms to provide information about suspects.

When executing search warrants, officers will also be permitted to seize electronic data, such as data from computers and storage devices.

In addition, the police will be permitted to bring in specialised assistance, such as locksmiths, to execute a warrant due to modifications to the search warrant procedures.

The rules will also assist law enforcement in addressing the growing problem of cybercrime and online child grooming.

Victorian police will receive new powers to seize the crypto assets. Picture: Victoria Police

 Specialised police will be able to go undercover far more quickly than in the past, as they will no longer need the consent of the Chief Commissioner of Police to take a false identity.

Police minister Anthony Carbine stated that the legislative revisions were intended to bring police powers in line with current crime. The manner in which criminals work is rapidly evolving, so it’s essential to be equally prompt in empowering the police to respond to emerging forms of criminality.

Police will no longer be required to petition a court to seize firearms and drugs from criminals. Convictions for possessing a trafficable number of weapons and other drug and sexual offences will automatically lead to the seizure of the items.

In addition, victims will be eligible for increased compensation for their offences.

The condition that victims’ compensation is related to the same crime for which a person’s property was confiscated is eliminated.

According to the government, the law will ensure that adequate safeguards and oversights of courts remain in place, such as court supervision over the execution of warrants and court orders requiring the return of confiscated property to its owner.

Tags: Feature
Van Tran

Van Tran


EDUCATION
Bachelor of Finance, University of Virginia
SUMARY Van Tran brings over a decade of experience in the financial services industry, with a specialisation in cryptocurrency. She used to serve as a Senior Crypto Writer at Coin68, where she managed ecosystem and trading guide columns and led the trading department. Her expertise includes trade review, compliance, suitability evaluation, and supervisory programs.
EXPERIENCE
Senior Crypto Writer, Coin68 (2020-2022) Managed ecosystem and trading guide columns. Led the trading department, overseeing trade review and compliance. Evaluated suitability and ensured compliance with education requirements. Implemented and supervised compliance programs for representatives.

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