The British government could sell around 5 billion pounds sterling of Bitcoin seized with criminals to help fill a budgetary gap. Bitcoin was removed from Jian Wen, a former take -out worker linked to the money laundering of an alleged fraud program of 7 billion pounds sterling.
Politicians like former Lord Lamont Chancellor argue that the government should sell Bitcoin quickly, warning that keeping it could resemble support for crypto, which he calls “worthless”. The rules under the product of the Crime Act allow managers to sell confiscated assets, the product going to public funds after having covered reimbursements and victims costs.
This great sale could shake the cryptographic markets. Bitcoin price oscillations could lead it to others like Ethereum (ETH) and Ripple (XRP). If investors panic, it could trigger wider sales.
But a gentle and managed sale could calm the nerves, showing the crypto can manage large movements and stimulate confidence in active ingredients like ETH and XRP. Be that as it may, the decision could shape both the finances of the United Kingdom and the short-term future of crypto.
