(1) This section applies to cryptoassets which -
(a) are held by a person, and
(b) are held in a crypto wallet administered by a UK-connected cryptoasset service provider,
but only so far as the cryptoassets are free property.
(2) Subsection (3) applies if -
(a) a confiscation order is made against a person holding cryptoassets to which this section applies, and
(b) a receiver has not been appointed under section 50 in relation to the cryptoassets.
(3) A magistrates' court may order the UK-connected cryptoasset service provider which administers the crypto wallet in which the cryptoassets are held -
(a) to realise the cryptoassets, or a portion of the cryptoassets having a specified value,
(b) to pay the proceeds of that realisation to the designated officer for the court on account of, and up to a maximum of, the amount payable under the confiscation order, and
(c) to the extent that the proceeds of the realisation exceed the amount payable under the confiscation order, to pay the exc
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