What Next for the UK’s $7 Billion in Seized Bitcoin?

Trade associations representing the British crypto industry have mixed views on whether the UK Government should use $7 billion in seized Bitcoin as the basis of a strategic reserve. The UK Government is reportedly aiming to keep most of the 61,000 BTC it seized in 2018, with civil recovery proceedings currently determining how much should be returned to victims of a large-scale Chinese investment fraud. The legal question of how much victims should be compensated comes at a time when the UK Government is looking for ways to fill a hole in public finances worth up to $67 billion. However,…