Australian police seize $140,000 in cryptocurrency for the first time following law authorizing the confiscation of crypto assets

Odaily News Victoria Police in Australia has successfully seized $142,679 worth of cryptocurrency for the first time following a recent update to the law. The Victoria Police released its 2023-2024 annual report on October 31, highlighting the "new powers" authorized after the recent addition of "Section 92A Seizing Digital Assets Under a Search Warrant" to the Confiscation Act 1997. Effective August 1, 2023, the legal change authorizes Victorian police to seize cryptocurrency held by criminals through search warrants. (Cointelegraph)