No Comments

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

by Kevin Helms
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.
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.
What do you think about the amount of bitcoin seized by U.K. police? Let us know in the comments section below.
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.
HP-Branded Servers Hijacked to Mine $110,000 Worth of Cryptocurrency
Hackers recently took control of a group of HP-branded servers and used them to remotely mine a cryptocurrency called raptoreum, according to reports. This resulted in the compromised cluster of HP machines becoming the biggest contributor to the total mining … read more.
Crypto Exchange Binance Receives Approval in Bahrain — Plans to Become Regulated, Centralized Worldwide
Binance has received in-principle approval from the Central Bank of Bahrain to operate a cryptocurrency service provider in the country. The license is part of Binance’s “plans to become a fully-regulated centralized cryptocurrency exchange,” the crypto exchange detailed. Binance Receives … read more.

Check all the news here

source

You might also like

More Similar Posts

Leave a Reply

Your email address will not be published.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

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Menu