Sweden calls for tighter crypto seizures under new forfeiture law

Strömmer has encouraged the authorities to utilize more forfeiture laws that were put in place last November. These laws allow enforcement agencies to confiscate assets even if it cannot be proved that someone has broken the law.

This means if officials believe that anyone has earned cryptocurrency illegally or that person cannot explain where the money came from, the police and other arms of the government will be able to acquire it by law.

Swedish lawmakers advocate for a national Bitcoin reserve

The new laws are one of the strictest in Europe, Strömmer noted. Following reliable sources, the rule prompted the seizure of 80 million Swedish kronor, equivalent to $8.4 million in assets.

According to the website of the Swedish parliament, this law also applies to children and young people, as well as those who suffered from a severe mental disorder at the time of the crime.

Based on the Minister of Justice they aim to ensure that the authorities work together more closely and pay special attention to assets that bring big profits. “Now it’s a matter of turning up the pressure further,” Strömmer said.

Strömmer’s requests for more active seizures come as some Riksdag lawmakers advocate creating a national Bitcoin reserve . This approach resembles the trend in the US, Czechia, and Italy.

In the meantime, a leading advocate of a Bitcoin reserve, Dennis Dioukarev, a Member of the Riksdag, commented on the topic of discussion. Dioukarev told reporters he agrees with Strömmer’s calls to increase seizure enforcement.

He welcomed every effort to seize illegally obtained assets. Dioukarev argued that this would help to fight crime and make life hard for criminals.

As for what will or should be done with seized crypto, Dioukarev reiterates his calls for the accumulation of a strategic reserve. Based on his explanation, cryptocurrencies in general and Bitcoin in particular that are confiscated should be transferred to Sweden’s central bank, the Riksbank, to build a strategic Bitcoin reserve.

The Swedish authorities reveal increasing cryptocurrency adoption among criminals 

When reporters last asked Minister Strömmer’s press office about the fate of seized cryptocurrencies, one of his press officers responded that they could not answer those questions then. 

This inability to comment also extended to questions about what steps Strömmer and the Swedish government intend to take to enhance crypto-related asset seizures.

In 2024, 62,000 individuals were part of or linked to criminal networks in Sweden, according to the Bloomsbury Intelligence & Security Institute. Drug dealers and money launderers were among those using cryptocurrency a lot, though it is hard to measure exactly how much.

Additionally, in September, the Police Authority and the Financial Intelligence Unit in Sweden reported that some cryptocurrency exchanges were skilled money launderers. 

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