RATE Group | Ireland Seizes Bitcoin Stash Worth $56M in Criminal Forfeiture Ruling
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Ireland Seizes Bitcoin Stash Worth $56M in Criminal Forfeiture Ruling

20 Feb Ireland Seizes Bitcoin Stash Worth $56M in Criminal Forfeiture Ruling

Posted at 20:32h in Bitcoin News by

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Ireland Seizes Bitcoin Stash Worth $56M in Criminal Forfeiture Ruling

Ireland’s Criminal Assets Bureau (CAB) seized 6,000 BTC from a Dublin resident who was accused of growing cannabis on property located in the Wicklow Mountain region. The police found around €450,000 of marijuana plants but the €52 million ($56.1M) of BTC was the biggest single-value asset seizure by the CAB since 1996. A new era could be upon us where governments holding large quantities of bitcoin will be the norm.

Also read: US Government Auctioning off Bitcoins Worth $37 Million in 2 Weeks

**This article has been updated at 3:28 p.m. ET. An earlier version of this article stated that the 6,000 BTC had to be held for a seven-year period. This article has been updated to reflect a regional report that highlights Collins’ consent to the seizure removed the need for the CAB to wait for seven years.**

Ireland’s Criminal Assets Bureau Seizes 6,000 BTC Worth $56M

Three years ago during a Garda Síochána (police) inquiry, a man named Clifton…

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