Both UK and Germany seize billions worth of bitcoin, bitcoin ETF for Global X withdrawn

Crypto2Cash
3 min readJan 31, 2024
Photo by Ruben Hanssen on Unsplash

Britain seized a large amount of bitcoin: worth £1.4 billion

London Police have reportedly seized £1.4 billion worth of bitcoin (BTC), believed to have been obtained from a major investment scam in China. This seizure is one of the largest of its kind carried out by law enforcement worldwide.

In other developments today, the German government also confiscated a large amount of BTC.

The statement came during the trial of 42-year-old Jian Wen, who is accused of laundering BTC for his former employer, who is suspected of having fled Beijing. Wen pleaded not guilty.

In 2018, police seized four separate devices containing more than 61,000 bitcoin from a safe deposit box and a residence occupied by Wen and his then-employer Yadi Zhang. The total value of cryptocurrency seized in July 2021 was approximately £1.4 billion.

Source: bitcoinsistemi

German law enforcement agencies have seized about 50,000 BTC

German law enforcement agencies have temporarily seized around 50,000 BTC, valued at approximately $2.17 billion.

This action, conducted in mid-January 2024, represents the largest Bitcoin confiscation in the country’s history.

The operation showcases Germany’s increasing efforts to tackle cybercrime and financial offenses related to digital currencies.

The seizure was a result of a collaborative operation involving the Dresden Chief Public Prosecutor’s Office, the Saxony State Criminal Police Office, and the Leipzig II tax office’s tax investigation department, collectively known as the Saxony Integrated Investigation Unit (INES).

They received additional support from the Federal Criminal Police Office (BKA), the FBI, and a Munich-based computer forensic specialist firm. This coordinated approach underlines the seriousness of German authorities addressing digital currency-related crimes.

Source: BitcoinWorld

Cboe Exchange officially withdraws application for Global X spot BTC ETF

The Chicago Board Options Exchange, or Cboe, has officially withdrawn the application for a proposed rule change it filed on behalf of Global X, a New York-based provider of exchange-traded funds (ETFs), that could’ve allowed the firm to list the shares of its spot Bitcoin ETF.

The SEC confirmed via a Tuesday notice that Cboe BZX had withdrawn the application for listing and trading shares of the Global X Bitcoin Trust. Interestingly, the application was first filed in August 2023.

The regulator noted that it had extended the deadline for consideration twice, the first time in September and then in November, but added that Cboe officially decided to withdraw its application for the Global X Bitcoin Trust by January 26.

Source: TheCoinRise

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