UK Treasury May Consider Selling Seized Bitcoin Amid Legal Disputes and Budget Deficit Concerns

Key Points

1. The UK Treasury may sell 61,000 BTC seized from a Chinese Ponzi scheme, now valued at over $7 billion due to the crypto market rally.

2. Legal disputes, including claims from Chinese authorities and victims, are delaying the potential sale.

3. The Crown Prosecution Service is managing the seized assets under UK proceeds of crime laws, with unresolved victim compensation issues.

4. A £40 million government tender for crypto storage solutions was canceled due to lack of suitable bids, highlighting operational challenges.

5. Advocacy groups argue against immediate sale of seized crypto, suggesting long-term retention to avoid market instability and support economic positioning.