Bloomberg columnist: Advises UK Chancellor to sell more than 60,000 seized Bitcoins to rebuild Britain

Odaily News Merryn Somerset Webb, a senior columnist for Bloomberg, wrote that he recommended that the new British Chancellor of the Exchequer, Rachel Reeves, sell the countrys 61,245 bitcoins (worth about $5 billion) to help rebuild the UK. It is reported that most of these bitcoins come from Wen Jian, the suspect in the UKs largest Bitcoin money laundering case. However, accountants at RSM UK said that the UK must use civil recovery procedures to prove that Wens assets were obtained illegally and should therefore be confiscated by the state. The proceeds of crime are usually seized by the police and the Home Office separately, and Reeves may have the final say. Webb also pointed out that as long as international criminals use Bitcoin and are caught by the police, more cryptocurrencies may be seized. (Bloomberg)