Sweden’s top justice official is urging law enforcement to intensify efforts to seize assets linked to criminal activities, including cryptocurrency holdings, as part of a broader crackdown on illicit finance.
Justice Minister Gunnar Strömmer told Dagens industri on Thursday that agencies should prioritize cases likely to yield significant confiscations, ranging from real estate to digital assets.
Since the passage of a sweeping seizure law in 2024, Swedish authorities have already confiscated more than $8.3 million in suspected criminal proceeds.
“Now it’s time to turn up the pressure even more,” Strömmer said, signaling that the government views asset forfeiture as a key tool in curbing organized crime and financial wrongdoing.
New Seizure Law Sparks Controversy Over Civil Liberties
The crackdown is rooted in a law that took effect last November, which allows police and tax authorities to seize luxury items and cash from individuals even if they are not formally accused of a crime.
The legislation empowers authorities to confiscate property when an owner cannot prove that their assets were acquired legitimately or that their income matches their holdings.
“This means that a person who, for example, has large amounts of cash, sizeable bank assets or luxury articles may forfeit them if he or she does not have an income that is proportional to the property,” Sweden’s government explained at the time.
Critics have raised concerns about civil liberties and due process. The Economist reported that, within days of the law taking effect, officials seized nearly $1 million worth of property—including cash and luxury watches—from travelers passing through Gothenburg-Landvetter Airport.
Calls to Hold Seized Bitcoin as National Reserve
Sweden’s evolving approach to digital assets has sparked debate not only over enforcement but also over policy.
In April, Member of Parliament Rickard Nordin formally requested that the finance ministry explore holding Bitcoin as a strategic reserve asset. Nordin proposed a “budget-neutral” model, suggesting that Sweden retain confiscated BTC rather than liquidate it immediately—similar to the policy recently adopted by the United States.
Earlier this year, President Donald Trump signed an executive order establishing a U.S. crypto reserve, a move that may have inspired other countries to consider stockpiling digital assets alongside traditional currency reserves.
Sweden’s finance ministry has not publicly indicated whether it plans to adopt the proposal.
Quick Facts
- Sweden’s justice minister is pushing for expanded asset seizures, including crypto.
- A 2024 law allows confiscation of wealth if owners cannot prove lawful origins.
- Lawmakers are debating whether seized Bitcoin should be retained as a national reserve.
