The UK is preparing to sell a Bitcoin stash worth over 7 billion USD.

The Home Office of the United Kingdom ( is coordinating with the police to handle a seized cryptoassets stash, which includes at least 61,000 Bitcoin ) worth over 7 billion USD(, according to a report from The Telegraph on Saturday.

Although the total value of all the seized cryptoassets has not been disclosed, most of it has been identified as proceeds from a multi-level scam from China connected to the United Kingdom. A woman was sentenced to over 6 years in prison in 2024 for laundering 150 BTC for a Chinese female individual involved in this fraud.

Although the victims have requested a refund of the embezzled funds, the Royal Prosecutor’s Office is still seeking permission from the Supreme Court to retain the seized Bitcoin. If approved, the proceeds from the sale of this Bitcoin will be transferred to the national budget.

Information about the ability to sell the aforementioned cryptoassets has attracted the attention of Finance Minister Rachel Reeves, who is currently facing a serious budget deficit. In April, Ms. Reeves stated that the UK Treasury is keen to work closely with the United States to promote innovation in the crypto industry by establishing clearer regulations.

“A robust legal framework for the cryptocurrency sector will help strengthen investor confidence, promote the development of )Fintech( technology, and protect consumers across the UK,” Ms. Reeves stated.

The UK government is currently inviting tenders for a contract to operate a service for managing and liquidating seized cryptoassets, according to an announcement made by the procurement company BlueLight Commercial ) owned by the police( on behalf of the Home Office. This contract is worth up to 53.7 million USD and will last for a minimum of 4 years. However, according to The Telegraph, no qualifying bids have been received yet.

The legal processing of seized digital assets also causes significant delays. The tender notice acknowledges:

“The average time from the moment of asset seizure until the legal process of ) disbursement ( is about 1 year; for more complex cases, it may take 3 to 4 years.”

Thach Sanh