UK, Proceeds with sale of seized Bitcoin worth 9 trillion won... To cover budget deficit

The British government is reportedly considering the sale of bitcoin worth about 5 billion pounds (approximately 9.3 trillion won). According to The Telegraph, the Treasury plans to work with police and related agencies to build a system for selling seized BTC. This is interpreted as a measure to secure funds to cover the budget shortfall due to the economic recession.

The bitcoin sale includes assets seized in the past related to large-scale investment fraud cases. While the British government has not officially disclosed the total amount of BTC seized, it secured 61,000 bitcoins in January 2023 linked to a Chinese Ponzi scheme.

Concerns have also been raised about this sale plan. Jordan Walker, founder of the cryptocurrency support group 'Bitcoin Collective', pointed out in a letter to the British government that "disposing of strategic assets like BTC to solve short-term financial problems could be a decision that weakens the UK's economic position."

Meanwhile, the victims of the Ponzi scheme are demanding the return of the bitcoins seized by the British government and have requested the Chinese Ministry of Foreign Affairs to intervene in negotiations between the two countries. The possibility of expanding into an international conflict over the legal status and asset handling of bitcoin cannot be ruled out.