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Australian Police sets up cryptocurrency unit

The Australian Federal Police (AFP) has set up a new cryptocurrency unit.

The new unit will focus on money laundering.

The agency will not be receiving additional powers to seize assets.

The AFP made a 2,000% return in one of its first crypto seizure cases.

In 2016, it began proceedings to seize around $5,000 of bitcoin — but by the time the force was able to get its hands on it, the value had increased to $105,000.

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