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🚨📣: UK Chancellor Rachel Reeves is considering selling more than $7.2 billion in confiscated Bitcoin to boost public finances.
- CryptoUK warns against this move, arguing that it conflicts with Reeves' efforts to promote growth in the UK's cryptocurrency and fintech sector.
- The $7.2 billion currently held in confiscated Bitcoin could help close a $29.7 billion "black hole" in the UK's public finances.
- The UK's Bitcoin holdings come from the UK's holdings of 61,000 Bitcoin confiscated in 2021.