Schedule 8, Part 3, paragraph 44

In section 195R (release of property), after subsection (5) insert— If a cryptoasset-related item which has been released is not claimed within the period of a year beginning with the date on which it was released, the appropriate officer may— retain the item and deal with it as they see fit, dispose of the item, or destroy the item. The powers in subsection (6) may be exercised only— where the appropriate officer has taken reasonable steps to notify— that the item has been released, and the person from whom the item was seized, and any other persons who the appropriate officer has reasonable grounds to believe have an interest in the item, with the approval of a senior officer. “Senior officer” in subsection (7)(b) has the meaning given in section 195G(3). Any proceeds of a disposal of the item are to be paid into the Consolidated Fund.

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Source: legislation.gov.uk · retrieved 2026-09-04