The UK Insolvency Service has appointed Andrew Small as its first dedicated crypto intelligence specialist to trace and recover crypto assets involved in bankruptcy and criminal proceedings. Small, with a background in economic crime investigation, will focus on a broad array of digital assets including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and non-fungible tokens (NFTs). This strategic move comes amid a significant rise in crypto-related insolvency cases in the UK, with a 420% increase over the past five years and a surge in the values of crypto assets involved, now estimated at over £523,000.
The appointment highlights the UK’s growing institutional effort to manage digital asset recovery within its legal framework, potentially setting a precedent for other jurisdictions. Small’s role aims to equip investigators with specialist knowledge on crypto technologies and asset types, improving recovery outcomes and enabling stronger cooperation between investigative and technical teams.
Alongside this development, the UK is implementing stricter crypto regulations. Starting January 1, 2026, crypto firms in the UK must collect and report detailed customer transaction data, integrating the Organisation for Economic Development’s Cryptoasset Reporting Framework. This regulatory push complements the recovery efforts and underscores a broader drive for transparency and improved tax compliance in the crypto sector.
Overall, the UK’s initiative reflects the rapid rise of crypto ownership among its population — 12% of adults owned crypto in 2024, significantly up from 4% in 2021 — underlining the importance of integrated legal and regulatory measures to handle the evolving crypto ecosystem effectively.