The UK Home Office is planning to sell approximately $7 billion worth of Bitcoin seized from a 2018 Chinese Ponzi scheme to help address a £22 billion budget deficit. This decision positions the UK as the third-largest Bitcoin holder among nations. The sale is currently facing legal challenges, with Chinese authorities and victims seeking the return of the assets. The Crown Prosecution Service has requested to retain the coins, with proceeds potentially directed to the Treasury. Chancellor Rachel Reeves has shown interest in working with the US to foster crypto innovation through regulation.