$BTC Sweden Intensifies Seizure of Virtual Currency from Criminal Activities

Swedish Minister of Justice Gunnar Strömmer has just requested the police, the Tax Agency, and the Enforcement Authority to enhance the confiscation of illegal assets, particularly cryptocurrencies. According to the new confiscation law enacted last November, authorities have the right to seize assets even without proving a crime, if the owner cannot explain the source. #Sweden

This is considered one of the strictest regulations in Europe, which has helped confiscate assets worth approximately 8.4 million USD to date. According to Strömmer, the government will strengthen coordination and focus on high-yield assets, particularly targeting drug trafficking and money laundering using crypto.

Meanwhile, some Swedish lawmakers like Dennis Dioukarev have proposed transferring seized #bitcoin to the Central Bank Riksbank, creating a strategic reserve fund, similar to the U.S., Czech Republic, or Italy.

However, the Ministry of Justice has not confirmed specific plans regarding the amount of seized crypto. A report last year also indicated that many crypto exchanges in Sweden were suspected of facilitating money laundering.

Sweden is taking a hard stance on opaque crypto — but will seized Bitcoin become a “national treasury”?