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British police have revealed how much cryptocurrency they have seized over the past five years in response to freedom of information requests. London’s Metropolitan Police has seized more bitcoin than any other police district.
UK police reveal information on cryptocurrency seizures
Over the past five years, 12 of 43 British police officers have seized crypto worth around £322m ($435m) in criminal investigations, New Scientist said on Thursday, citing its freedom of information (FOI) request. currency.
Bitcoin accounted for 99.9% of cryptocurrencies seized in the UK However, law enforcement also seized Ethereum, Monero, Dash and zcash.
The police with the most cryptocurrencies seized were the London Metropolitan Police, who seized £294 million bitcoin. GBP 25 million seized by Greater Manchester Police. Some police boroughs did not respond to the requests.
Meanwhile, the U.S. tax agency, the Internal Revenue Service (IRS), disclose Last November, $3.5 billion in cryptocurrency was seized in fiscal 2021. This accounted for 93 per cent of all funds seized by the tax agency’s criminal investigation unit over the same period. The agency expects billions of dollars in cryptocurrency to be seized this year.
What do you think of the amount of Bitcoin seized by the UK police? Let us know in the comments section below.
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