The UK is taking measures to improve the investigative systems around cripTo-related crimes. This week, the UK government appointed Andrew Small as the first Crypto expert in the Insolvency Service, who is responsible for the recovery and trace of assets associated with insolvency individuals or liquid companies. Earlier, Andrew Small was a police investigator who highlighted his new appointment, highlighted that the cases of crypto-related bankruptcy in recent times have become more common and need to pay immediate attention.
In the last five years, UK government Stated The number of insolvency cases involving crypto as a recovery property has seen a 420 percent increase. Between 2019 and 2020, the UK saw 14 such cases, while between 2024 and 2025, the number of cases increased to 59.
The small, in his statement, claimed that the crypto property is “much more recoveryable” and that in his new role he would assist insolvency service in using crypto-related technologies to conduct relevant investigations.
He said, “It is a duty of insolvency service to find out money and property from individuals or companies in insolvency matters, and we work to return more and more money to the creditors as much as possible,” he said.
Currently, the Crypto sector is partially regulated in the UK. While Crypto advertisements are regulated in the country, the government has also recently done Update Some business reporting rules need to be followed by Crypto exchanges. The purpose of the country is the final cut A more comprehensive crypto regulatory framework by 2026.
With a gradual introduction to the guidelines related to Crypto, these digital assets have “strict in popularity” in the UK. In 2024, the Financial Conduct Authority (FCA) reported that seven million UK-based adult-based adult-based adult-based adults make up to 12 percent of their total population-owned crypto property. In 2021, 3.2 million adults found crypto holdings. Inspired by increasing domestic interest in cryptocurrency, the UK government plans to intensify the monitoring of the use of Crypto to detect illegal financial activities.
“Crypto is growing in popularity. Andrew brings a treasure of knowledge for this role, as well as his previous experience as an economic crime investigator within the police, and his appointment will help our investigators deal with cases where Crypto asset ownership is a factors,” said Neel Freebari, the chief of intelligence in the insolvency service.
Now that the country is getting closer to finalizing its crypto rules, the Bank of England (BOE) is also inspecting on crypto-linked activities. In December last year, BOE Guided The UK-based corporates to disclose their respective Crypto Exposure situations.
Meanwhile, like firms coincidence, Bitpanda, MasterCard, and Crackon Has expanded its crypto-related work in the US.