The UK Bankruptcy Services, which is responsible for returning assets to creditors in bankruptcy cases, said it has appointed its first cryptographic information expert to help track cryptocurrencies as digital assets become more widespread.
Former police investigator Andrew Small will assume a role in the agency and will focus primarily on criminal cases, Service said.
Over the past five years, the number of cases identified as assets that liquidators can recover from cryptos has increased by 420% to 59.
“Crypto is a highly resilient asset and my role is to assist agents by providing expert knowledge about the types of crypto assets available and the related technologies used to buy and sell them,” Small said in a statement.
The UK is bolstering its crypto framework as digital assets are gaining popularity. A survey by financial conduct authorities showed that the number of crypto-holding residents has risen from 2.2 million in 2024 to 7 million since 2024. The country has published draft cryptographic system laws and consultations.
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