The UK crypto industry is currently divided over the fate of 61,000 BTC seized in 2018. The debate focuses on whether the government should retain the Bitcoin as a strategic reserve or sell it under the Proceeds of Crime Act (POCA) to prioritize victim compensation. Industry group CryptoUK supports holding the Bitcoin to enhance the UK's competitive edge, while experts like Professor Naseem Naqvi argue that long-term holding conflicts with POCA's victim-focused mandate.
The government is considering various options, including phased auctions and research-led strategies, as it navigates the legal obligations and potential market impacts of its decision. This situation places the government at a crossroads between adhering to legal compliance and exploring future crypto reserve policies.
UK Debates Future of 61,000 BTC Seized in 2018
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