Critical Cryptocurrency Statements from the Swedish Minister of Justice: New Instructions Issued

Swedish Justice Minister Gunnar Strömmer instructed the police, Tax Agency, and Enforcement Agency to more effectively identify and confiscate cryptocurrency assets obtained from crime. Strömmer expressed the desire for the new confiscation law that came into effect last November to be used more effectively.

Thanks to the new legal regulation, authorities can confiscate a person's assets without any conviction if they suspect that the assets were obtained from criminal proceeds and the person cannot explain the source of those assets. Strömmer stated, "We want institutions to increase cooperation by particularly focusing on high-profit assets and to further increase pressure."

So far, 80 million Swedish kronor ( worth approximately 8.4 million dollars ) in assets have been confiscated. According to the website of the Swedish parliament, this law also applies to children and individuals with mental disabilities.

This call comes at a time when some members of the Riksdag are advocating for the establishment of a national Bitcoin reserve by following similar steps taken in countries such as the USA, Czech Republic, and Italy. Dennis Dioukarev from the Sweden Democrats, who supports this idea, stated that he viewed Strömmer's statements positively and said the following:

"I support the confiscation of all assets obtained through illegal means in order to combat crime and make it difficult for criminals."

Dioukarev stated that the seized cryptocurrencies should be transferred to the Swedish Central Bank (Riksbank) to create a strategic Bitcoin reserve.

It is noted that the number of individuals connected to criminal networks in Sweden is expected to reach 62,000 by 2024, with reports indicating that drug traffickers and money launderers are significantly using cryptocurrency.