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

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

UK Police Reveal Information About Seized Cryptocurrencies

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

Bitcoin accounted for 99.9% of cryptocurrencies seized in the UK, however law enforcement also seized ethereum, monero, dash and zcash, according to the publication.

The police force that seized the majority of the cryptocurrencies was the London Metropolitan Police, which seized £ 294 million in BTC. Greater Manchester Police seized £ 25 million. Some police districts did not respond to requests.

Meanwhile, the US tax authority, the Internal Revenue Service (IRS), revealed in November last year that $ 3.5 billion worth of crypto was seized during fiscal year 2021. This represents 93% of all funds seized by the criminal investigation unit of the tax agency during the same period of time. The agency expects to seize billions of dollars more in cryptocurrency this year.

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British Police, Criminal Bitcoin, Criminal Cryptocurrencies, Crypto, Cryptocurrencies, Cryptocurrency, Law Enforcement, London Metropolitan Police, Seized Bitcoin, Seized Crypto, Seized Crypto, UK Police

What do you think of the amount of bitcoins seized by the UK police? Let us know in the comment section.

Kevin helms

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

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