UK Chancellor of the Exchequer Rachel Reeves is considering selling government-held seized cryptocurrencies to ease pressure on the nation's finances, as the Home Office works with police to develop an official cryptocurrency storage system to handle sales of bitcoin and other digital currencies.
The value of seized cryptocurrencies held by the UK government is estimated to be at least £5 billion. One enforcement operation in 2018 resulted in the seizure of 61,000 bitcoins from Ponzi schemes, worth more than £5.40 billion at current prices.
The UK Treasury is considering selling 5 billion pounds worth of Bitcoin to cover the fiscal deficit
2025-07-20 00:18:31
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