The United Kingdom’s Home Office, in collaboration with law enforcement, is advancing plans to sell a confiscated cryptocurrency portfolio containing Bitcoin valued at approximately $7 billion.
As reported by The Telegraph, the seized assets include 61,000 BTC tied to a Chinese Ponzi scheme.
A key figure in the case received a six-year prison sentence in 2024 for laundering a portion of the illicit funds. Despite claims from defrauded investors, UK prosecutors are pursuing legal authorization to retain the Bitcoin, with proceeds earmarked for the Treasury.
Chancellor of the Exchequer Rachel Reeves, confronting budgetary challenges, has expressed interest in the potential windfall. Reeves has previously underscored the importance of regulatory clarity to strengthen the UK’s position in the crypto sector.
