The UK government is considering selling £5 billion worth of seized Bitcoin to address a £22 billion public finance deficit. The cryptocurrency was confiscated from Jian Wen, who was involved in laundering proceeds from a significant crypto fraud. This marks the largest recovery of its kind in the UK. The decision on when and how to sell the Bitcoin will be guided by the Proceeds of Crime Act 2002.
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The UK government is considering selling £5 billion worth of seized Bitcoin to address a £22 billion public finance deficit. The cryptocurrency was confiscated from Jian Wen, who was involved in laundering proceeds from a significant crypto fraud. This marks the largest recovery of its kind in the UK. The decision on when and how to sell the Bitcoin will be guided by the Proceeds of Crime Act 2002.