Question to the Home Office:

To ask His Majesty's Government, further to the Written Answer by Lord Hanson of Flint on 18 December 2024 (HL3295), of the £243.3 million of assets recovered from confiscation, forfeiture, and civil recovery orders in the financial year 2023–24, what percentage was made up by cryptocurrencies; and how much of this has been redistributed to law enforcement agencies under the Asset Recovery Incentivisation Scheme.

The Home Office is reviewing plans to publish new statistics on crypto assets as part of future annual stats bulletins on asset recovery in response to the new powers that came into effect in April 2024.

The Proceeds of Crime Act 2002 (POCA) contains powers to deprive criminals of their money, or other property connected to criminal activity, and recover the proceeds of crime, including cryptocurrencies. As with all assets, action to seize, recover and manage crypto assets is for independent law enforcement bodies and the courts to consider.

We do not routinely publish the amount recovered under the Proceeds of Crime Act 2002 by asset type.