Circular 004/2024: cryptoasset confiscation order provisions
Summary: Criminal law update (26 April 2024): The Home Office published Circular 004/2024 on cryptoasset confiscation orders — powers used in serious crime cases, not routine tax disputes. We summarise why it matters for understanding UK enforcement; solicitors should read the full circular on gov.uk.
What confiscation orders are
Courts can order confiscation of criminal proceeds after conviction. Crypto presents tracing challenges; Circular 004/2024 explains how provisions apply when assets are held in wallets or on exchanges.
Why crypto holders should know
Legitimate holders are unaffected day-to-day. The circular matters for understanding UK enforcement capability and why exchanges may freeze accounts when law enforcement requests it.
Frequently asked questions
Can HMRC use confiscation orders for unpaid tax? +
Tax debt uses different enforcement powers. These circulars target criminal proceedings.