🚨 Breaking Crypto News: UK Government Considers Selling Seized Bitcoin to Address Budget Deficit 🚨

The UK government is contemplating the sale of £5.2 billion worth of Bitcoin, seized from organized criminals, to help fill a £22 billion gap in public finances. This significant amount was confiscated from Jian Wen, linked to a major cryptocurrency fraud scheme, marking the largest crypto seizure in UK history. Former Chancellor Lord Lamont advocates for a swift sale to benefit the Treasury and avoid legitimizing cryptocurrency. The proceeds, managed under the Proceeds of Crime Act 2002, will be influenced by victim compensation, recovery costs, and international obligations. The Crown Prosecution Service has sought the High Court's permission to retain the seized Bitcoin, allowing the funds to pass to the Treasury.

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