UK Sells Seized Bitcoin Worth Billions To Address Economic Challenges
2025-07-20 07:03:27
Main Idea
The UK Home Office seized $117,881 worth of Bitcoin from criminals, including 61,000 BTC from a Chinese Ponzi scheme, and plans to sell the assets over four years despite legal challenges and victim demands for refunds.
Key Points
1. The UK Home Office seized at least 61,000 BTC from a Chinese-based Ponzi scheme, totaling $117,881.
2. Victims of the scheme are demanding refunds, but the UK government faces budget deficits and economic pressures.
3. The Home Office proposed a $53.7 million contract to hold and sell the seized cryptocurrencies over four years.
4. Legal challenges and victim demands complicate the process of converting the seized BTC into cash for the Treasury.
5. In 2024, a woman involved in laundering 150 BTC linked to the fraud was part of the legal proceedings.
Description
The UK plans to sell $7 billion worth of seized Bitcoin. A central service will manage the storage and sale of these digital assets. Continue Reading: UK Sells Seized Bitcoin Worth Billions To Address Economic Challenges The post UK Sells Seized Bitcoin Worth Billions To Address Economic Challenges appeared first on COINTURK NEWS .
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