UK Set to Sell $7B in Seized Bitcoin Amid Budget Crisis

The UK government is racing to cash in on a colossal Bitcoin seizure—worth $7 billion—as it scrambles to address a budget shortfall.

According to The Telegraph, the Home Office and police are finalizing plans to offload the crypto, originally taken down in a Chinese Ponzi scheme bust.

The 61,000 BTC haul remains contested, with victims demanding reimbursement. However, prosecutors are pushing to permanently confiscate the assets, funneling the proceeds into Treasury coffers.

Chancellor Rachel Reeves, under pressure to stabilize finances, has taken a keen interest in the sale. She has previously called for tighter crypto regulations to drive fintech growth and protect UK investors.