Summary
- The UK Home Office reportedly plans to sell seized virtual assets on a large scale in cooperation with the police.
- It is known that the current value of Bitcoin seized in a 2018 Ponzi scheme crackdown is about $7 billion.
- The Home Office has announced plans to establish a framework for the safe storage and sale of virtual assets seized by law enforcement agencies.
The UK Home Office is reportedly planning to sell seized virtual assets (cryptocurrency) in cooperation with the police.
On the 19th (local time), the UK media outlet The Telegraph reported that the UK Home Office, as a measure to fill a financial gap, is working with the police to promote the liquidation of seized virtual assets.
Although the total amount of virtual assets seized by the police has not been disclosed, it is known that in the crackdown on a Ponzi scheme in 2018, approximately 61,000 Bitcoin (BTC) were seized, which is now worth £5.4 billion (about $7 billion), a twentyfold increase from its value at that time. The Home Office plans to establish a 'virtual asset storage and liquidation framework' to help law enforcement agencies safely store and sell seized virtual assets.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.![[Exclusive] FSS to examine ZKsync coin that surged '1,000%' in three hours](https://media.bloomingbit.io/PROD/news/1da9856b-df8a-4ffc-83b8-587621c4af9f.webp?w=250)
