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The UK government could soon bring billions into public funds by selling a massive amount of seized bitcoin, according to a new report from The Telegraph. The Home Office is currently preparing plans to offload a huge crypto stockpile, with a large portion tied to a single fraud case dating back to 2018.
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The majority of the seized bitcoin—61,000 BTC—came from a single law enforcement action six years ago. It was linked to a Chinese investment scam that authorities uncovered in 2018. According to blockchain analysis firm Arkham Intelligence, that cache alone now holds a market value of over £5.39 billion.
The Home Office, through its procurement wing, is reportedly developing a new centralized system to manage and eventually liquidate the crypto assets. The so-called “crypto storage and realisation framework” would ensure that digital assets are held securely and sold in a controlled manner.
As part of this setup, officials are considering a service contract worth up to £40 million in commissions to handle the logistics of these crypto sales. Once assets are sold and victim claims are processed, remaining funds typically get divided between the UK Treasury and law enforcement initiatives.
Though it is still unclear how much of the potential proceeds will reach the Exchequer, these kinds of sales have historically helped pad public finances—especially in cases where victims cannot be identified or reimbursed.
The timing of the planned sale is drawing attention, as Chancellor Rachel Reeves looks for ways to close budget gaps without introducing new taxes. The potential windfall, even if not immediate, could offer a boost.
Still, the process is not as simple as clicking “sell.” Cardiff University experts told The Telegraph that legal complications and ongoing restitution claims can delay or limit what the government can liquidate. In this case, the final say rests with the law enforcement agencies involved, depending on how each case is resolved.