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Section 303Z59: Release of detained converted cryptoassets

Proceeds of Crime Act 2002 · 2002 c. 29View on legislation.gov.uk

Part 5: Civil recovery of the proceeds etc. of unlawful conduct — CHAPTER 3F: Conversion of cryptoassets

This section applies while any converted cryptoassets are detained under section 303Z57 or 303Z58.

The relevant court may direct the release of the whole or any part of the converted cryptoassets if the following condition is met.

The condition is that, on an application by the relevant person, the court is not satisfied that there are reasonable grounds for suspecting that the converted cryptoassets to be released—

are recoverable property, or
are intended by any person for use in unlawful conduct.

In subsection (3) "the relevant person" means—

in the case of converted cryptoassets detained under section 303Z57, the person from whom the cryptoassets mentioned in subsection (1) of that section were seized, and
in the case of converted cryptoassets detained under section 303Z58, any person affected by the crypto wallet freezing order mentioned in subsection (1) of that section.

A person within subsection (6) may, after notifying the magistrates' court or sheriff under whose order converted cryptoassets are being detained, release the whole or any part of the converted cryptoassets if satisfied that the detention is no longer justified.

The following persons are within this subsection—

in relation to England and Wales or Northern Ireland, an enforcement officer;
in relation to Scotland—
the Scottish Ministers,
an officer of Revenue and Customs,
a constable, and
a procurator fiscal.

About this text

This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.