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 up to now 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 price roughly £322 million ($435 million) in felony investigations within 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 within the U.Ok. However, Law enforcement additionally seized ethereum, monero, sprint, and zcash, the publication conveyed.
The police drive 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 12 months that $3.5 billion in crypto was seized throughout the fiscal 12 months 2021. This represents 93% of all funds seized by the tax company’s felony investigation unit throughout the identical time interval. The company expects to grab billions of {dollars} extra in cryptocurrency this 12 months.
What do you consider the quantity of bitcoin seized by U.Ok. police? Let us know within the feedback part beneath.
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