The Swedish Government has brought itself in a peculiar condition. They are obliged to pay Bitcoin with monetary worth of $1.5 million to an alleged Drug Dealer!
The authorities had found the individual guilty of selling drugs online and receiving payment in BTC. He is said to have obtained 36 BTC in this illicit trade. However, the value of earned Bitcoin surged while he was in jail, serving his sentence.
The fallacy of Swedish Prosecutor
The Swedish Court found a man at fault for selling drugs through an online platform. After earning 36 BTC from this trade, the convict was put under custody. His prosecutor, Tove Kullberg, put forth the fiat value of BTC to form her case.
Following this, the court seized the Bitcoin earnings at a 1.3 million Swedish Kronor value. However, this error has led the court to review their judgement and pay back the amount to the convicted dealer once he is released. This is mainly because this case was held 2 years back.
And since then, the market value of Bitcoin has spiked extensively. Therefore, the dealer’s crypto stash is said to be worth $1.5 million at the BTC present value. It is also being stated that the mistake could have been avoided if the prosecutor had specified the funds in cryptocurrency.
After this discovery, the prosecutor, Tove Kullberg, has accepted her mistake on the Swedish radio channel. She further added that she was unable to predict the future consequences and effects of this step. Kullberg also said that the government should focus on encouraging its employees to learn about the crypto market to prevent such errors in upcoming years.
