Sweden Broadens Legislation to Confiscate Digital Assets, Prompting Caution Among Crypto Traders

Sweden’s Justice Minister Gunnar Strömmer has instructed local authorities to enhance their efforts in confiscating assets such as cryptocurrency, luxury items, and real estate under a comprehensive new law aimed at unexplained wealth, even targeting individuals not directly involved in criminal activities.

Key Takeaways:

• The new legislation in Sweden allows authorities to confiscate assets, including cryptocurrencies, from individuals who cannot demonstrate the legitimacy of their wealth.
• Since the law’s implementation in November 2024, over $8.3 million has already been seized.
• Legal experts are expressing growing concerns regarding potential violations of civil liberties.

In an interview with Dagens industri on Thursday, Strömmer encouraged police, tax authorities, and the Swedish Enforcement Authority to focus on cases that are likely to yield substantial confiscations.

The justice minister disclosed that more than $8.3 million in assets have been confiscated since the law came into effect in November 2024. “Now it’s time to increase the pressure even further,” Strömmer stated.

Sweden’s New Law Empowers Authorities to Confiscate Assets Without Evidence of Crime

The contentious legislation grants authorities the power to seize cash, bank assets, and luxury goods from individuals who cannot demonstrate that their wealth is commensurate with their income or provide a valid explanation for its source.

When the government introduced this measure, it stated that the goal was to combat violent crime by disrupting the financial resources of criminals.

“This means that an individual who possesses significant amounts of cash, substantial bank assets, or luxury items may lose them if they do not have an income that corresponds to the property and cannot otherwise clarify its origin,” the government explained at that time.

While it remains uncertain how much of the $8.3 million seized thus far is associated with cryptocurrency, the law has already raised alarms among legal experts and advocates for civil liberties.

The Economist reported in December that a woman passing through Gothenburg-Landvetter Airport had $137,000 and a Rolex watch confiscated, while approximately $1 million in assets were seized during the initial week of enforcement.

California passed bill to seize your crypto. pic.twitter.com/QxbWzKEsSZ

— mrredpillz jokaqarmy (@JOKAQARMY1) June 28, 2025

In April, Swedish MP Rickard Nordin urged the finance minister to contemplate adopting Bitcoin as a reserve asset, suggesting that authorities hold onto seized BTC rather than liquidate it, akin to a “budget-neutral” strategy employed by the U.S.

The initiative for a digital asset reserve follows former U.S. President Donald Trump’s signing of an executive order in March to establish a national crypto reserve, potentially motivating lawmakers in other countries to consider similar approaches.

Swedish MPs Advocate for Bitcoin Inclusion in National Reserves

In April, two Swedish lawmakers called on Finance Minister Elisabeth Svantesson to explore the possibility of incorporating Bitcoin into Sweden’s foreign exchange reserves, emphasizing its parallels to gold and its potential as a safeguard against economic instability.

Their proposal involves either directly accumulating Bitcoin or implementing a budget-neutral strategy by retaining BTC seized in criminal cases instead of auctioning it off.

Central to the Swedish lawmakers’ proposal is the conviction that Bitcoin could function as a form of digital gold, an asset capable of preserving value during periods of economic turmoil.

Significantly, this approach has enabled the U.S. government to discreetly amass considerable amounts of BTC, a strategy formalized in March when Donald Trump signed an executive order incorporating Bitcoin into the national reserve framework.

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