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UK Government's $5 Billion Seized Bitcoin Faces October Court Ruling

Original: The UK Government Holds 61,245 Seized Bitcoin, and One of Its Own Officers Went to Prison for Stealing 50. An October 12 Ruling Decides Who Keeps the $5 Billion.

The UK government holds 61,245 bitcoin seized in a major fraud investigation, a haul now worth around $5 billion. Adding embarrassment, one of its own officers was imprisoned for stealing 50 bitcoin from the cache. A court ruling expected on October 12 will decide who ultimately owns the seized coins, with attention on whether the state keeps them and how victims of the original fraud may be repaid.

Why now: A court decision on ownership of the multi-billion-dollar bitcoin haul is imminent, and the officer's theft case has drawn extra attention.

UK GovernmentMetropolitan PoliceBitcoinJian WenZhimin Qian

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• The UK Government Holds 61,245 Seized Bitcoin, and One of Its Own Officers Went to Prison for Stealing 50. An October 12 Ruling Decides Who Keeps the $5 Billion. · 24/7 Wall St.

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