TechFlow news, a Scottish court has for the first time used proceeds of crime legislation to convert and seize Bitcoin into cash. 29-year-old John Ross Rennie had £109,601 seized by the court after being involved in a violent cryptocurrency robbery case that occurred in Blantyre in March 2020.
Rennie was identified as the "technical mastermind" of the incident, having provided technical support to three robbers on how to transfer Bitcoin.
At the High Court of Edinburgh, lawyers agreed to convert 23.5 Bitcoins into £109,601 in cash.
Last November, Rennie was sentenced to 150 hours of unpaid work and a six-month supervision order. Case details revealed that victims were forced under knife-point to transfer cryptocurrency, and one woman was assaulted with a triangular chocolate bar. Police in Scotland said this was the country's first robbery case involving the tracking of stolen cryptocurrency.
