World Info... 😉
The British government is considering the possibility of monetizing a huge amount of confiscated cryptocurrencies – mainly bitcoins – in order to partially patch up the national budget.
The value of these assets, as revealed by a report from The Telegraph, could exceed even $6.7 billion, or about £5.2 billion.
At the center of this decision is 61,000 BTC, seized by authorities in 2018 in connection with a Chinese investment fraud.
At the time of seizure, their value was around £300 million, but today – with current bitcoin prices – it is already over £5.4 billion.
The new Chancellor of the Exchequer – Rachel Reeves – is expected to play a key role in the decision regarding a potential sale.
The government is seeking all possible sources of revenue to eliminate a £20 billion deficit ahead of the upcoming autumn budget.
Reeves does not rule out tax increases, but as experts point out, cryptocurrencies may prove to be a much more effective source of funding....
