Sweden’s Justice Minister Gunnar Strömmer has instructed local authorities to enhance efforts in confiscating assets such as cryptocurrency, luxury items, and real estate under a comprehensive new law aimed at targeting unexplained wealth, which extends even to individuals not directly accused of crimes.
Key Takeaways:
- New legislation allows authorities to seize assets, including cryptocurrencies, from those unable to substantiate the legitimacy of their wealth.
- Since the law came into effect in November 2024, over $8.3 million has been confiscated.
- Legal experts are expressing concerns regarding potential infringements on civil liberties.
In a recent interview with Dagens industri, Strömmer called for police, tax authorities, and the Swedish Enforcement Authority to prioritize investigations that would likely lead to substantial asset confiscations. “Now it’s time to turn up the pressure even more,” he emphasized, detailing that assets worth more than $8.3 million have already been seized since the law was enacted.
New Legislation Allows Seizure of Assets Without Criminal Proof
The contentious law provides authorities with the power to seize cash, bank accounts, and luxury possessions from individuals who cannot demonstrate a legitimate source of wealth that correlates with their assets. The Swedish government initially stated that the intention behind this measure was to tackle violent crime by disrupting the financial operations of criminals.
A government statement outlined, “This means that a person who possesses significant amounts of cash, large bank assets, or luxury items may forfeit them if he or she does not have an income proportional to the property and cannot otherwise explain its origins.”
While it remains uncertain how much of the seized $8.3 million is linked to cryptocurrency, the law has prompted alarm among legal experts and advocates for civil liberties. Reports from The Economist in December indicated that a woman passing through Gothenburg-Landvetter Airport had $137,000 and a luxury Rolex watch confiscated, with approximately $1 million in assets taken within the first week of enforcement.
California passed a bill to seize your crypto. pic.twitter.com/QxbWzKEsSZ
— mrredpillz jokaqarmy (@JOKAQARMY1) June 28, 2025
In a related development, Swedish lawmaker Rickard Nordin urged the finance minister in April to consider incorporating Bitcoin into the nation’s reserve assets, suggesting that authorities hold onto seized Bitcoin instead of liquidating it, akin to a “budget-neutral” approach utilized by the United States.
This proposal for a digital asset reserve appears to have gained momentum following former U.S. President Donald Trump’s March executive order establishing a national cryptocurrency reserve, potentially motivating international lawmakers to consider similar tactics.
Swedish Lawmakers Advocate for Bitcoin in National Reserves
Two Swedish lawmakers have proposed that Finance Minister Elisabeth Svantesson evaluate the addition of Bitcoin to Sweden’s foreign exchange reserves. They draw parallels between Bitcoin and gold, emphasizing its role as a potential hedge against economic uncertainty.
Their suggestion includes either the direct accumulation of Bitcoin or maintaining seized BTC from criminal cases instead of auctioning it off. The rationale behind the lawmakers’ proposal revolves around the notion that Bitcoin has the potential to function as a form of digital gold, preserving value during periods of economic volatility.
This approach has quietly allowed the U.S. government to accumulate significant quantities of Bitcoin, an initiative formalized earlier this year when Trump’s executive order integrated Bitcoin into the national reserve framework.
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