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EK Releases Bill to Seize, Freeze and Recover Crypto

2022.09.23

The UK introduces a new crypto law to make it simpler for law enforcement authorities to confiscate, freeze, and reclaim cryptocurrency when it is used for crypto illegal acts, crypto media channel CoinDesk reported on September 23.

 

The proposed legislation included measures to reduce "red tape regarding confidentiality liability" and provide law enforcement the power "to compel corporations to disclose up information which may be connected to money laundering or terrorist funding," including crypto which was first introduced by King Charles, during the Queen’s Speech to both houses of the U.K. Parliament.

 

The UK has been working diligently to combat cybercrime. On the other side, it continues to embrace cryptocurrency, particularly under Liz Truss's ministry. The UK is looking to become a country of choice for building crypto.

 

Another recent crypto bill was finalized yesterday by the European Union on its landmark markets in Crypto Assets (MiCA) aimed to place regulations on cryptocurrencies excluding NFTs.

 

Source: COINDESK

Fee policy for withdrawal of virtual assets

The following fees are charged when withdrawing virtual assets from Delio Bank.

Virtual asset type Transmission fee (Gas fee) Withdrawal fee
Bitcoin (BTC) Charged according to network conditions 2,000 won worth of Bitcoin
Ethereum (ETH) Charged according to network conditions 2,000 won worth of Ethereum
Ripple (XRP) Charged according to network conditions 1 XRP

· There is no fee for transfers within Delio Bank.

· No withdrawal fee is charged for virtual assets other than Bitcoin, Ethereum, and Ripple.

· Please check the transfer fee for virtual assets other than Bitcoin, Ethereum, and Ripple when withdrawing.