TechFlow news, August 5 — According to Decrypt, Lancashire Police recently announced that bitcoins seized in a 2017 theft case have generated a premium gain of $665,000 (£500,000) due to rising prices. Under UK law, after full compensation is provided to the victim, half of this premium gain will go into the police special enforcement fund and the other half will be paid into the national treasury.
The police economic crime unit stated that these funds will be used to purchase law enforcement equipment and support community safety projects. This marks the first time the force has received digital asset appreciation proceeds under the new legislation. The individuals involved in the case have been legally sentenced.
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