Digital Asset Manager Komainu to Provide Custody of Crypto Seized by UK Police

The Assistant Commissioner of the City of London Police said the partnership with Komainu would help in “denying criminality the proceeds of crime." Digital asset custodian Komainu is working with authorities in the United Kingdom to store crypto confiscated as part of criminal investigations.Komainu is a custody venture from Japan-based global investment bank Nomura, digital asset manager CoinShares, and hardware wallet manufacturer Ledger. The firm announced it has made an agreement  to “securely store digital assets seized during the investigatory process” for police forces in England,....

U.K. police have revealed how much cryptocurrency they have seized in the past five years in response to Freedom of Information requests. The London Metropolitan Police seized more bitcoins than other police boroughs. UK Police Reveal Information About Seized Crypto Twelve of the U.K.’s 43 police forces have seized cryptocurrency worth approximately £322 million ($435 million) in criminal investigations in the last five years, New Scientist reported Thursday, citing Freedom of Information (FOI) requests it submitted. Bitcoin made up 99.9% of the....

South Korean financial authorities have pledged to revise their crypto custody practices following public scrutiny over multiple incidents that led to the loss of nearly $30 million in seized digital assets over the past few months. Related Reading: War With Iran May Spark Federal Reserve Intervention, Arthur Hayes Says Authorities Move To Enhance Crypto Custody […]

The U.S. Marshals Service, a primary law enforcement agency of the Department of Justice (DOJ), has hired a new custodian for its seized cryptocurrencies. The agency has seized and auctioned off over 185K bitcoins so far. The United States Marshals Service (USMS) has selected Anchorage Digital to provide custody for cryptocurrencies seized in criminal cases, the crypto custody firm announced Wednesday. The USMS is one of the primary law enforcement agencies of the U.S. Department of Justice (DOJ). It was also the first federal law enforcement agency in the country. Anchorage explained:....

Co-founders Diogo Mónica and Nathan McCauley cited the Anchorage's "stringent processes and procedures" as likely factors in the decision from the federal agency. Crypto custody bank Anchorage Digital will be providing digital asset services for the United States Marshals Service for seized funds related to federal crimes.In a Wednesday announcement from Anchorage, the digital asset platform said the U.S. Marshals Service, or USMS, “seized some amount of digital assets in recent years” which required a partner in the space to provide certain financial services. Anchorage will be....