The Telegraph: The United Kingdom will sell confiscated bitcoins worth $7 billion

The authorities of the United Kingdom plan to sell at least 61,000 $BTC (about $7 billion at the time of the announcement). The assets were confiscated as part of the exposure of a financial pyramid scheme related to a Chinese citizen, reports The Telegraph.

It should be noted that at the beginning of 2024, British police confiscated 61,000 BTC connected to a large-scale investment fraud in China. At that time, a trial began against 42-year-old Jian Wen, who is accused of involvement in money laundering amounting to £5 billion.

It is known that the money from the sale of bitcoins will go to the Treasury, which is facing a budget deficit. This process has attracted the attention of Chancellor of the Exchequer Rachel Reeves.