The UK Bankruptcy Services has appointed its first crypto intelligence expert to help recover cryptocurrency from bankruptcy and criminal cases.
Andrew Small, a former police investigator with a background in economic crime, will lead efforts to track and retrieve crypto assets not considered in these lawsuits, according to A June 9 statement to bankruptcy services.
This is because the number of crypto-related bankruptcies in the UK has increased by 420% over the past five years, while the estimated value of crypto assets identified in bankruptcies has increased by 364 times to £523,580 ($709,500) over the same time frame.
“In the UK, ownership of cryptocurrency ownership has risen rapidly, and we have seen the same increase in ownership of crypto goods in bankruptcies,” Small said.
Everything from Bitcoin to memes and NFTS will seek recovery
The task of bankruptcy services is to recover funds and assets from individuals or companies in bankruptcy cases to return as much creditor funds as possible.
Small said his character will need to provide expert knowledge about the types of cryptocurrencies available and the related technologies used to buy, sell and store them.
Bankruptcy Service says this could include anything from Bitcoin (BTC) and ether (ethereth) to members like Dogecoin (Doge) and non-killable token artwork.
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Neil Freebury, head of intelligence at the bankruptcy service, predicted Small’s appointment could enhance collaboration and enhance outcomes for investigators engaged in cryptocurrency asset ownership cases.
“His appointment will help us handle investigators in cases of CryptoAsset ownership.”
Crypto ownership is rising in the UK
From Financial Conduct Authority in the UK Discovered in November last year UK adults own 12% of cryptocurrency In 2024, there was a significant increase compared to the 4% reported in 2021.
Their average value is as high as £1,842 ($2,496).
UK requires crypto companies to report every customer transaction
A growing effort is taking back cryptocurrency from bankruptcy cases, driven by the UK’s more stringent regulation of the cryptocurrency industry.
UK crypto companies will need Collect data Everyone Customer Transactions The UK revenue and customs department said last month that the transfers began on January 1, 2026, as part of a broader effort to improve crypto tax reporting.
Everything about the user Full name, home address, Each transaction, including the amount used and the amount moved, requires the collection and reporting of tax identification numbers.
New rules are part of the UK’s integration in the Organization for Economic Development to increase transparency Crypto tax reports.
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