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The Swedish government is paying $1.5 million in Bitcoin to convicted drug dealers

The Swedish regime has paid around $1,5 million in Bitcoin (BTC) to a drug dealer convicted. Additionally, subsequently incarcerated in unpredictable circumstances.

The Swedish prosecution claimed in Court that the defendant should be deprived of his illegally earning Bitcoin of equal value in currency at the time of his conviction.

The Crime

Two years ago, the guy was put under conviction of unlawfully earning 36 Bitcoin by selling medicines online in a Swedish court. But his then prosecutor, Tove Kullberg, had spent the equivalent worth of Bitcoin for fiat. The Court consequently held, at the then worth of 1.3 million Swedish Kronor (US$100,000). They should remove his unlawfully gained Bitcoin.

In the years after the conviction and incarceration of the offender, his crypto hoard was so much appreciated that just the 36 BTC was in an auction by the Swedish Enforce Authority to meet the Court’s demands.

The Lesson

Now 33 BTC, worth $1.5 million, reached their owners legally. Kullberg spoke on Swedish radio and stated, in retrospect, “unfortunate in many ways. It has led to consequences I was not able to foresee at the time.” She added the following:

“The lesson learnt is to keep the value in Bitcoin, that the profit from the crime should be 36 Bitcoin. Regardless of what value the Bitcoin has at the time.”

As crypto-monetary technology continues to grow, prosecutors would do well to invest in the industry’s training for their employees. The more minor errors we will make, the more we improve the degree of expertise in the company.

Cryptocurrencies continue to confront international legal authorities and proceedings, whether by their volatility or their technical nature. In the UK, a government-supported task group has suggested a dispute settlement framework. This will standardize how smart contract issues to deal with. Due to the failure to recognize Bitcoin as legal tender or its surrogate, a Russian court decided against restoring stolen crypto to the victim of a severe crime last year.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.