Sweden wants tighter crypto seizures under new forfeiture law - Coinfea

Lawmakers in Sweden have called on authorities to use more forfeiture laws that were put in place last November. These laws allow law enforcement to forfeit digital assets even if it cannot be proven that the holder broke the law to get them.

This means that if officials in Sweden believe that someone has earned digital assets via illegal means or that person cannot explain where the money came from, the police and other arms of the government will be able to acquire it by law.

Lawmakers in Sweden advocate for national Bitcoin reserve

According to Strömmer, the new laws are one of the strictest in Europe. Following reliable sources, the rule prompted the seizure of 80 million Swedish kronor, equivalent to $8.4 million in assets. According to the website of the Swedish parliament, this law also applies to children and young people, as well as those who suffered from a severe mental disorder at the time of the crime.

Based on the Minister of Justice they aim to ensure that the authorities work together more closely and pay special attention to assets that bring big profits. “Now it’s a matter of turning up the pressure further,” Strömmer said. Strömmer’s requests for more active seizures come as some Riksdag lawmakers advocate creating a national Bitcoin reserve. This approach resembles the trend in the US, Czechia, and Italy.

The move was also supported by a leading advocate for Bitcoin reserve in the country, Denis Dioukarev. The member of the Riksdag told reporters that he agrees that law enforcement needs to increase seizure enforcement. He welcomed every effort to seize illegally obtained assets. Dioukarev argued that this would help to fight crime and make life hard for criminals. As for what will or should be done with seized crypto, Dioukarev reiterates his calls for the accumulation of a strategic reserve

Based on his explanation, cryptocurrencies in general and Bitcoin in particular that are confiscated should be transferred to Sweden’s central bank, the Riksbank, to build a strategic Bitcoin reserve. However, when reporters asked the press office of Minister Strömmer about the fate of the seized assets, they could not provide an answer to the question at the time. This development questions what Strömmer and the Swedish government intend to do to enhance crypto-related asset seizures.

In 2024, 62,000 individuals were linked to criminal activities in Sweden, according to the Bloomsbury Intelligence & Security Institute. Drug dealers and money launderers were among those using the assets, though it is hard to measure exactly how much. In addition, in September, the Police Authority and the Financial Intelligence Unit in Sweden reported that some cryptocurrency exchanges were skilled money launderers. The report recommended that law enforcement gradually increase its monitoring and infiltration of crypto exchange platforms to help detect and disrupt illegal operations.