Changelly

Cryptocurrency

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

2 Mins read


U.K. 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 boroughs.

UK Police Reveal Information About Seized Crypto

Twelve of the U.K.’s 43 police forces have seized cryptocurrency worth approximately £322 million ($435 million) in criminal investigations in the last 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 U.K. However, Law enforcement also seized ethereum, monero, dash, and zcash, the publication conveyed.

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

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

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

What do you think about the amount of bitcoin seized by U.K. police? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, 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 between economics and cryptography.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





Source link

Related posts
Cryptocurrency

How to pick the best staking coins for passive income

6 Mins read
What is crypto staking? Crypto staking involves locking up one’s cryptocurrency holdings to earn interest or rewards. Technically, “staking” is how certain…
Cryptocurrency

Breaking 'bear market' in Bitcoin demand will spark next BTC price surge — analysts

2 Mins read
Bitcoin (BTC) demand has been in a “bear market” for a whole year, but a surge is most likely what will spark…
Cryptocurrency

El Salvador explores low-interest loans backed by Bitcoin

1 Mins read
It’s full steam ahead for El Salvador’s Bitcoinization. The next point on the orange agenda is in providing low-interest loans backed by…

Leave a Reply

Your email address will not be published. Required fields are marked *