Bitcoin
The question
To ask the Chancellor of the Exchequer, what assessment she has made of the potential long-term fiscal merits of retaining the Bitcoins held by UK authorities in connection with investment fraud.
Answered by Lucy Rigby
Under the Proceeds of Crime Act 2002 (POCA), which sets out the necessary steps for the management and realisation of assets, the seizure, recovery and management of Bitcoin assets is subject to consideration of independent law enforcement and the courts.
There are no current plans to amend the Act to divert seized coins to a centrally-held fund or reserve.
I am unable to comment on any ongoing civil recovery investigations.
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