Sweden Intensifies Seizure of Virtual Currency from Criminals
Swedish Minister of Justice Gunnar Strömmer has just requested the police, the Tax Agency, and the Enforcement Authority to strengthen the confiscation of criminal assets, especially cryptocurrency. According to the new seizure law enacted last November, authorities have the right to seize assets even without proving a crime if the owner cannot explain the origin. #Sweden
This is considered one of the strictest regulations in Europe, which has helped to seize assets worth approximately 8.4 million USD to date. According to Strömmer, the government will enhance coordination and focus on high-yielding assets, particularly targeting drug trafficking and money laundering using crypto.
Meanwhile, some Swedish lawmakers like Dennis Dioukarev have proposed transferring #bitcoin seized to the Central Bank Riksbank, establishing a strategic reserve fund, similar to the US, Czech Republic, or Italy.
However, the Ministry of Justice has not confirmed specific plans regarding the seized crypto amount. Last year's report also indicated that several crypto exchanges in Sweden were suspected of facilitating money laundering.
Sweden is cracking down on illicit crypto — but will seized Bitcoin become a “national treasury”?