The UK Home Office plans to sell approximately $7 billion worth of seized encryption assets to fill the fiscal gap.

On July 20, according to the UK Daily Telegraph, the Home Office is working with the police to sell a batch of seized Crypto Assets to fill a financial gap. The total amount of Crypto Assets seized by the police is unclear, but during a raid in 2018, approximately 61,000 Bitcoins were confiscated from a Ponzi Scheme case, which currently has a total value exceeding £5.4 billion (about $7 billion), having risen about 20 times since its seizure. The Home Office plans to establish a "Crypto Asset storage and monetization framework" that allows law enforcement agencies to securely store frozen digital currencies and sell them. According to a tender notice issued by BlueLight Commercial, a procurement company under the police, on behalf of the Home Office, the UK government will also provide a contract to operate a centralized service responsible for holding and selling seized Crypto Assets. The contract is valued at up to $53.7 million and will be effective for at least four years, but the proposal has not yet received acceptable bids. The time between police seizures of digital assets and the clearance for selling these assets is usually long. The tender notice stated: "The average time from asset seizure to the conclusion of legal proceedings (monetization) is within 1 year; for more complex cases, it may take 3 to 4 years."