UK government to sell large batch of confiscated bitcoins
Date: 2025-07-21 Author: Gabriel Deangelo Categories: IN WORLD
The digital assets were seized by UK police as part of a financial fraud case organized by Chinese woman Jian Wen. The investigation established that Wen acted as a front woman and participated in the laundering of capital of her patron Yadi Zhang, using the purchase of expensive real estate in London for this. According to data from Southwark Crown Court, Zhang's stolen funds are associated with the deception of about 130,000 people - victims of a fraudulent crypto investment scheme launched by the Chinese company Tianjin Lantian Gerui Electronic.
The exact dates for the release of such a volume of bitcoins to the market have not yet been announced. However, it is known that the government has already opened a tender for 40 million pounds sterling (about $54 million), which provides for the storage and subsequent sale of these assets. According to The Telegraph, the funds will be used to attract external operators capable of organizing the safe sale of cryptocurrency.
Within the country, the idea of how to dispose of the confiscated bitcoins has sparked debate among politicians. The head of Reform UK Nigel Farage suggested not selling the bitcoins in full, but creating a state fund of digital reserves based on them. In his opinion, this could strengthen the country's financial security in the future. However, the majority of Laborites did not support Farage's initiative and expressed their readiness to support the position of Chancellor Reeves, who insists on the sale of assets.
In addition, new measures were discussed the day before that could affect the use of cryptocurrencies within the country. Intergovernmental Relations Minister Pat McFadden proposed to introduce a ban on the transfer of crypto assets as donations to political organizations and parties. The issue was raised at a meeting of the House of Commons and House of Lords committees responsible for national security. Such a measure is aimed at combating possible illegal financing schemes and increasing the transparency of political activity.
Thus, the fate of a large batch of confiscated bitcoins has already attracted the attention of both financial markets and politicians. The decision to sell these assets may affect not only the domestic economy, but also the dynamics of the global crypto market, which is sensitive to such large sales of digital coins.
