Key takeaways
Table of Contents
- Since November 2024, Sweden has seized more than 7 million euros in inexplicable wealth.
- The new law allows to confiscate assets of whom the origin of his assets cannot prove.
- Crypto coins also fall under the law, but it is unclear what the government will do with the confiscated digital assets.
The Swedish Minister of Justice, Gunnar Strömmer, calls on the authorities to seize more under the new law on inexplicable assets. That law allows you to confiscate assets from people who cannot explain their wealth.
This includes cash, bank balances, luxury items and Digital currency. Since the law came into effect in November 2024, more than 7 million euros in assets have already been seized. Strömmer now requires extra efforts and to give priority to files with potentially large yields.
Controversial measure against crime
The law is intended to financially undermine organized crime. She makes it possible to purchase assets from who has a lifestyle that is not in line with the official income, without having to be a conviction.
According to the government of Sweden, the law is an instrument to restrict violent crime. Yet there is also criticism. Legal experts and civil rights organizations fear abuse and call for stricter guarantees.
Lack of transparency about seized assets
Part of the seized capacity may consist of crypto coins, although the precise share thereof remains unclear. Sweden has not yet communicated what happens with this digital assets.
The Strömmer cabinet provided no clarity about the destination of the crypto coins. Are they sold, stored or included in a national reserve? The lack of transparency leads to questions about the intentions of the government and the possible impact on the Swedish financial system.
Political call for cryptor reserve
The parliamentarians propose to use Bitcoin as a strategic financial instrument. They suggest that Sweden could persist the confiscated digital assets instead of selling them.
That model, a “budget -neutral approach”, is similar to the American method. He led to a considerable one Cryptor reserve in the hands of the US. But here too: as long as the Swedish government does not make its position clear, it remains unclear what will happen to the crypto coins. (Em)
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