Prosecutors in Scotland have made legal history by converting cryptocurrency into cash under proceeds of crime laws.
John Ross Rennie, 29, has been ordered to pay £109,601 after his BTC holdings were linked to criminal activity.
The case initially proposed settling entirely in cryptocurrency, but Judge Lady Ross sought legal clarification on whether digital assets could be used for such settlements.
On Monday, the High Court in Edinburgh ruled that bitcoin should be converted into cash. This is the first case in Scotland of confiscating and converting cryptocurrency under the proceeds of crime law.
Rennie was previously ordered to pay back the community for his involvement in laundering stolen money, following a 2020 raid where police traced cryptocurrency back to him following a robbery in Blantyre.
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