Sweden Intensifies Crypto Seizures Without Direct crime Evidence
Sweden’s Justice Minister, Gunnar Strömmer, has instructed law enforcement to escalate the seizure of unexplained crypto holdings. This move,based on a controversial law,aims to combat illicit activities in the digital age.
On July 4, Decrypt revealed StrömmerS directive to various agencies, urging them to increase confiscations of suspected crypto assets.The law, passed in November, allows authorities to seize digital assets if owners can’t explain their origins, even without concrete proof of criminal activity. Sence its implementation, over $8.4 million in property has been seized, showcasing Europe’s toughest stance on unexplained wealth.
Strömmer emphasized the need for better inter-agency coordination, especially for high-value assets like cryptocurrencies. The law, effective since november, empowers authorities to confiscate digital assets if owners can’t prove their legitimacy. This law has already led to significant seizures,reflecting the country’s aggressive approach.
Strömmer’s decision stems from growing concerns about crypto’s role in organized crime. A September 2024 report highlighted how some exchanges act as money laundering tools, aiding criminal networks.
Sweden democrat Dennis Dioukarev supports Strömmer’s initiative, suggesting seized Bitcoin be transferred to the Riksbank. However, the government remains vague about the fate of confiscated crypto, leaving questions unanswered.
Strömmer’s directive reflects Sweden’s commitment to tackling financial crime in the digital era. While the law has sparked controversy, it underscores the country’s resolve to adapt its asset forfeiture laws to modern financial challenges.
