Sweden’s Justice Minister Gunnar Strömmer has urged police, tax authorities, and the Swedish Enforcement Authority to boost the law to seize assets, including cryptocurrencies, under a 2024 law.
The legislation allows the confiscation of luxury items, cash, and digital assets from individuals, even without direct evidence of a crime, if they cannot explain the wealth’s origin.
According to the reports, Sweden’s Justice Minister, Gunnar Strömmer, has emphasized targeting cases likely to yield significant crypto proceeds, real estate, and corporate assets. Since the law’s enactment, authorities have seized over $8.3 million in criminal profits, though the portion tied to crypto remains unclear.
Strömmer further stated that authorities need to work harder to take away money, cryptocurrencies, and luxury items from people who can’t prove they earned them legally. A new law from 2024 lets the government seize these assets, even if the person isn’t directly accused of a crime, if their wealth doesn’t match their income.
Strömmer wants to crack down more to stop illegal financial activities. Designed to combat violent crime, the law has sparked controversy. In a related development, Swedish MP Rickard Nordin proposed in April that Sweden adopt a Bitcoin reserve, following the U.S. model. Swedish MP Rickard Nordin proposed that Sweden keep any Bitcoin it seizes from criminals instead of selling it.
He got this idea from a U.S. decision in March, where President Trump ordered the creation of a national crypto reserve without spending extra money. The ruling shows a growing trend worldwide of countries wanting to hold onto digital currencies like Bitcoin, which could shape Sweden’s approach as it ramps up efforts to crack down on illegal crypto activities.
Also Read: Sweden’s Fragbite Group Secures 5 Million SEK for Bitcoin Treasury
