Australian police seized cryptocurrency assets worth $142,000 for the first time after gaining "new powers."

ChainCatcher news, the Victoria Police in Australia has seized cryptocurrency for the first time following recent legal amendments, amounting to $142,679. This legal amendment allows the police to control digital assets.

On October 31, Victoria Police released its 2023-2024 annual report, highlighting the "new powers" obtained after the addition of "SECT 92A Seizure of Digital Assets by Warrant" in the 1997 Confiscation Act.

Since August 1, 2023, this legal change has granted the police in Victoria the authority to seize cryptocurrencies held by criminals through search warrants.