Crypto Traders on Alert as Sweden Expands Law to Seize Digital Assets
2025-07-05 09:39:19
Main Idea
Sweden has expanded its law to allow authorities to seize digital assets without direct proof of crime, aiming to disrupt criminal finances, with over $8.3 million confiscated since November 2024.
Key Points
1. Sweden's new law permits the seizure of digital assets even if the owner is not directly implicated in crimes.
2. Over $8.3 million in assets has been confiscated since the law took effect in November 2024.
3. Authorities aim to increase pressure on criminal finances, requiring individuals to explain the source of large amounts of cash or assets.
4. Examples include a woman at Gothenburg-Landvetter Airport having $137,000 and a Rolex watch confiscated.
5. Swedish lawmakers proposed keeping seized Bitcoin as part of a national reserve strategy, similar to the U.S. approach.
Description
Sweden’s Justice Minister Gunnar Strömmer has ordered local authorities to intensify efforts to seize assets like cryptocurrency, luxury goods, and real estate under a sweeping new law targeting unexplained wealth, even from individuals not directly implicated in crimes. Key Takeaways: Sweden’s new law lets authorities seize assets, including crypto, from anyone unable to prove the legitimacy of their wealth. Over $8.3 million has already been confiscated since November 2024. Concerns are rising...
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