Sweden Intensifies Crypto Seizure Efforts
Sweden’s Minister of Justice, Gunnar Strömmer, has issued a clear directive to the nation’s police, Tax Agency, and Enforcement Authority: significantly increase efforts to seize criminal profits, including those held in cryptocurrency. This call to action emphasizes a tougher stance against illicit gains, signaling a heightened focus on digital assets as a target for forfeiture. The move aims to disrupt criminal networks by directly impacting their financial resources, regardless of the form these assets take.
Leveraging New Forfeiture Legislation
Strömmer specifically urged authorities to make greater use of forfeiture legislation that was introduced in November of the previous year. This powerful new law permits enforcement agencies to seize property “regardless of whether or not it can be proven that someone has committed an actual offence.” This means that if authorities suspect an individual has obtained cryptocurrency illegally and that person cannot otherwise explain the origin of the funds, law enforcement agencies are legally empowered to seize those digital assets.
Strengthening Cooperation Against Illicit Gains
The Minister of Justice underscored the importance of inter-agency collaboration in this intensified crackdown. Gunnar Strömmer stated, “We want them to strengthen their cooperation and focus extra on assets that generate large profits. Now it’s a matter of turning up the pressure further.” He also highlighted that this new legislation is among the strictest in Europe, and it has already been successfully used to seize property valued at $8.4 million (80 million kronor), demonstrating its effectiveness in practice.
Broad Scope of Forfeiture Laws
The Swedish parliament’s website clarifies that the new forfeiture legislation has a broad application. It explicitly states that the law “applies to children and young people, as well as persons who at the time of the offence have a serious mental disorder.” This wide scope ensures that the authorities have comprehensive tools to target illicitly obtained assets across various demographics, reinforcing the government’s commitment to combating organized crime and its financial underpinnings.
Bitcoin Reserve Advocates Support Seizure Push
Strömmer’s call for increased seizure activity coincides with a growing movement within the Riksdag, Sweden’s parliament, advocating for the creation of a national Bitcoin reserve. Following similar initiatives in countries like the United States, Czechia, and Italy, some legislators are pushing for Sweden to accumulate Bitcoin as a strategic asset. Dennis Dioukarev, a prominent advocate for a Bitcoin reserve and a Member of the Riksdag, publicly supports Strömmer’s intensified seizure efforts, viewing them as crucial in the fight against crime.
Strategic Allocation of Seized Crypto
Regarding the disposition of seized cryptocurrencies, Dennis Dioukarev has a clear proposal. He reiterates his calls for these confiscated digital assets to be used to build a strategic national reserve. He explained, “Cryptocurrencies in general and Bitcoin in particular that are confiscated should be transferred to Sweden’s central bank, the Riksbank, in order to build a strategic Bitcoin reserve.” This approach would not only combat crime but also potentially strengthen the nation’s financial position.
Addressing the Scale of Criminal Activity
The push for increased crypto seizures comes amidst findings that highlight the significant involvement of criminal networks in Sweden. According to the Bloomsbury Intelligence & Security Institute, approximately 62,000 individuals were involved in or connected to criminal networks in Sweden in 2024. Drug dealers and money launderers are known to make substantial use of cryptocurrencies, although the exact figures remain unquantified. Furthermore, a report from September by Sweden’s Police Authority and Financial Intelligence Unit concluded that some crypto-exchanges are actively engaged in professional money laundering, underscoring the need for robust enforcement.
