Taiwan”s Ministry of Justice has made headlines by announcing the seizure of over 210 Bitcoin associated with various criminal cases. As of October 31, the total amount of confiscated Bitcoin stands at 210.45 BTC, reflecting a significant value of around $18 million based on current market prices.
This disclosure was prompted by legislator Ju-Chun Ko, who confirmed the information in a statement made on Thursday. The announcement was accompanied by a detailed photograph showcasing the total amount of Bitcoin seized, further highlighting the government”s active role in addressing cryptocurrency-related crime.
With the price of Bitcoin trading at $87,697, this seizure places Taiwan among the notable government holders of Bitcoin, currently ranking as the 10th largest globally, according to data from BitcoinTreasuries.NET. The United States leads the pack with over 328,000 BTC valued at nearly $29 billion, primarily obtained through law enforcement actions targeting cybercrime and fraud.
Globally, governments collectively possess over 640,000 BTC, representing about 3% of the total Bitcoin supply. Taiwan”s recent seizure not only underscores the growing involvement of governments in cryptocurrency asset management but also reflects a broader trend of increasing oversight and regulation within the crypto space.
The Taiwanese government”s actions raise important questions about the future of cryptocurrency regulation and the role of law enforcement in managing digital assets. As the landscape of cryptocurrency continues to evolve, the implications of these seizures could influence both market perceptions and regulatory frameworks in the region.
