Swedish Justice Minister Gunnar Strömmer has announced measures for more effective identification and seizure of cryptocurrency assets obtained through crime. This decision follows the introduction of a new confiscation law.
New Asset Seizure Measures
Gunnar Strömmer has instructed the police, the Tax Office, and the Enforcement Office to more effectively identify and seize cryptocurrency assets obtained through criminal activities. He emphasized the need for institutions to increase cooperation and pressure on assets that yield high profits.
Comprehensive Seizure Approach
With the new confiscation law that took effect last November, authorities can seize assets if they suspect they derive from criminal proceeds and the owner cannot explain the source. To date, assets worth 80 million Swedish crowns (about $8.4 million) have been seized. The law also applies to children and mentally ill individuals.
Support for Strategic Reserves
Some MPs in the Riksdag are advocating for the establishment of a national Bitcoin reserve, following similar measures in countries like the United States and the Czech Republic. Dennis Dioukarev from the Sweden Democrats expressed support for Strömmer's statements, suggesting that confiscated cryptocurrencies should be transferred to the Swedish Central Bank to create a strategic Bitcoin reserve.
With the growing number of individuals connected to criminal networks in Sweden, such as drug traffickers and money launderers, the use of cryptocurrency continues to rise. The new approach to confiscation aims to enhance the fight against crime in this area.
