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January 17, 2022
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Cryptocurrency Worth $435 Million Seized by 12 UK Police Forces in Five Years – Regulation Bitcoin News

U.Ok. police have revealed how a lot cryptocurrency they’ve seized in the previous 5 years in response to Freedom of Information requests. The London Metropolitan Police seized extra bitcoins than different police boroughs.

UK Police Reveal Information About Seized Crypto

Twelve of the U.Ok.’s 43 police forces have seized cryptocurrency value roughly £322 million ($435 million) in prison investigations in the final 5 years, New Scientist reported Thursday, citing Freedom of Information (FOI) requests it submitted.

Bitcoin made up 99.9% of the cryptocurrencies seized in the U.Ok. However, Law enforcement additionally seized ethereum, monero, sprint, and zcash, the publication conveyed.

The police power that seized probably the most cryptocurrencies was the London Metropolitan Police, which seized £294 million in BTC. The Greater Manchester Police seized £25 million. Some police boroughs didn’t reply to the requests.

Meanwhile, the U.S. tax authority, the Internal Revenue Service (IRS), revealed in November final yr that $3.5 billion in crypto was seized in the course of the fiscal yr 2021. This represents 93% of all funds seized by the tax company’s prison investigation unit throughout the identical time interval. The company expects to grab billions of {dollars} extra in cryptocurrency this yr.

Tags in this story
british police, prison Bitcoin, Criminal cryptocurrencies, Crypto, Cryptocurrencies, Cryptocurrency, Law Enforcement, London Metropolitan Police, Seized bitcoin, Seized Crypto, seized cryptocurrency, uk police

What do you consider the quantity of bitcoin seized by U.Ok. police? Let us know in the feedback part beneath.

Kevin Helms

A pupil of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source techniques, community results and the intersection between economics and cryptography.

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