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$ 435 million worth of cryptocurrency seized by 12 UK police forces in five years – regulation Bitcoin News

UK police have revealed how much cryptocurrency they have seized over the past five years in response to freedom of information requests. The London Metropolitan Police seized more bitcoins than other police districts.

British police reveal information about seized crypto

Twelve of the UK’s 43 police forces have confiscated approximately £ 322 million (US $ 435 million) worth of cryptocurrencies in criminal investigations in the past five years, New Scientist reported Thursday, citing Freedom of Information (FOI) requests it submitted.

Bitcoin made up 99.9% of the cryptocurrencies seized in the UK. However, law enforcement agencies also seized Ethereum, Monero, Dash and Zcash, the publication said.

The police who seized most of the cryptocurrencies were the London Metropolitan Police, which seized £ 294 million in BTC. Greater Manchester Police seized £ 25 million. Some police districts did not respond to the requests.

Meanwhile, the US Internal Revenue Service (IRS) announced in November last year that in fiscal year 2021 crypto worth 3.5 billion in the same period. The agency expects to seize another billion dollars in cryptocurrency this year.

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british police, criminal bitcoin, criminal cryptocurrencies, crypto, cryptocurrencies, cryptocurrency, law enforcement, london metropolitan police, bitcoin seized, crypto seized, cryptocurrency seized, british police

What do you think of the amount of Bitcoin that has been seized by UK police? Let us know in the comment section below.

Kevin Helms

Kevin, a student of Austrian economics, found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the interface between economy and cryptography.

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