Swedish Minister of Justice calls for strict confiscation of crypto
Sweden’s justice minister pushes for aggressive crypto seizures
Sweden’s Minister of Justice, Gunnar Strömmer, is pushing authorities to make broader use of the country’s recently enacted forfeiture laws, which allow enforcement agencies to seize assets even if criminal activity cannot be definitively proven.
These laws, which came into effect in November, give the police and other government branches the power to confiscate cryptocurrencies and other assets when individuals cannot adequately explain their source of funds, reports Cryptopolitan.
Strömmer emphasized that Sweden’s asset seizure framework is now among the strictest in Europe and has already resulted in the confiscation of assets worth 80 million Swedish kronor (approximately $8.4 million). Notably, the legislation is so far-reaching that it even applies to minors and individuals with severe mental disorders at the time of the alleged crime. Strömmer called for even greater pressure on criminals by intensifying asset-focused enforcement efforts.
Lawmakers push for national Bitcoin reserve from seized crypto
Amid Strömmer’s push for expanded seizures, some Swedish lawmakers are now advocating for the establishment of a national Bitcoin reserve. Dennis Dioukarev, a Member of the Riksdag and a leading proponent of this idea, has repeatedly argued that seized cryptocurrencies, particularly Bitcoin, should be transferred to the Swedish central bank, the Riksbank, to build a strategic digital asset reserve. Dioukarev voiced strong support for Strömmer’s push to crack down on illegally obtained assets, stating that aggressive seizure policies would deter criminal activity and make it more difficult for organized crime networks to thrive.
The move to accumulate a national Bitcoin reserve mirrors emerging strategies in countries like the United States, Czechia, and Italy, where governments are exploring the role of cryptocurrencies in national financial strategies. However, Swedish authorities have yet to offer specific plans regarding how confiscated digital assets would be managed or integrated into government holdings.
Rising criminal crypto usage triggers heightened scrutiny
The debate comes as Swedish officials continue to confront the growing use of cryptocurrencies among criminal networks. According to a 2024 report by the Bloomsbury Intelligence & Security Institute, an estimated 62,000 individuals were connected to criminal organizations in Sweden, many of whom were found to be heavily reliant on cryptocurrencies for drug trafficking, money laundering, and other illicit activities.
Although it remains difficult to quantify the exact scale of crypto’s role in the underground economy, Swedish police and the Financial Intelligence Unit have identified some cryptocurrency exchanges as significant enablers of money laundering operations. A joint report published in September called for expanded monitoring and deeper infiltration of these platforms to disrupt illegal activity. Despite the growing urgency, Minister Strömmer’s press office has not yet provided clear answers on the government’s long-term plans for handling confiscated crypto assets, nor on whether Sweden would formally pursue the creation of a national Bitcoin reserve.
Recently we wrote that Turkey’s Capital Markets Board (CMB) has launched one of the country’s most extensive enforcement actions against the cryptocurrency industry, blocking access to 46 crypto-related websites.
