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NEWS: UK could use seized Bitcoin worth £5bn to fill ‘black hole’ in public finances

Lord Norman Lamont

By PAUL O’DONOGHUE, Senior Correspondent

A £5 billion ($6.3 billion) cryptocurrency haul seized from organised criminals could help reduce the UK’s estimated £22 billion public finance deficit.

The bitcoin, confiscated under the Proceeds of Crime Act 2002, is the largest seizure in UK history, initially valued at £1.4 billion in 2021.

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