Can the government seize bitcoin

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However, authorities can't seize cryptos like they seize cars or real estate. You can't exert physical force or legally coerce the criminals in. the primary agency tasked with liquidating seized assets. While the case is pending, the government holds the bitcoin as evidence or proceeds of the crime. Can the Government Seize Your Bitcoin? As demonstrated by the arrest of Ho Wan Kwok and the seizure of more than $ million in cryptocurrency.

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Thus, they can dictate how it is transferred, sectors where it is distributed, and trace its utility. Governments often institute capital controls to prevent currency outflows because exports could debase their currency's value. Our firm has over two decades of experience helping individuals navigate this process.