Circular 005/2024: cryptoasset forfeiture provisions
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Summary: Criminal law update (26 April 2024): Circular 005/2024 explains how cryptoasset forfeiture provisions work alongside confiscation powers in criminal proceedings. Relevant to defendants and lawyers — not to everyday CGT filing. Our summary is editorial; legal detail is in the official publication.
Forfeiture vs confiscation
Forfeiture can apply without a conviction in certain civil recovery scenarios; confiscation typically follows criminal conviction. Both circulars explain how crypto fits existing Proceeds of Crime Act frameworks.
Consumer relevance
If your wallet or exchange account is linked to criminal activity, assets may be frozen or forfeited. Legitimate users should keep clean records of acquisition and source of funds.