A recent update from Arkham Intelligence revealed that the US government moved $40 million worth of Bitcoin that was confiscated from two Estonian citizens two years ago. According to Arkham, the US government now holds around $14.3 billion in digital assets, with Bitcoin and Ethereum being the most prominent cryptocurrencies in its portfolio. This transfer comes after a court order to forfeit and sell Bitcoin worth $130 million that belonged to Silk Road. People with a stake in the forfeited assets have a 60-day window to contest the forfeiture.

In another Bitcoin market development, $497.14 million of BTC was transferred to a Coinbase International wallet from a secret wallet labeled “12BKk.” The increasing attention to crypto regulation by governments worldwide is due to the growing popularity of cryptocurrencies as investment options. The US government is taking steps towards regulating crypto, following the lead of other countries like Germany, where investigators seized about 50,000 BTC worth €2 billion, the highest amount ever confiscated in the country.