After being convicted of theft reset, John Ross Rennie was prosecuted under proceeds of crime laws.

Scottish prosecutors made history by seizing and turning a bitcoin stockpile into cash using proceeds of crime law.

John Ross Rennie, 29, will pay £109,601 after his defense team agreed with Crown attorneys that he earned the money via crime.

Prosecution attorneys sued Cambuslang resident Rennie using profits of crime laws earlier this year.

Judge Lady Ross resumed the case from last Monday since the previous settlement was 23.5 bitcoin.

Lady Ross pursued the case to establish legal precedent for cryptocurrency proceeds of crime settlements.

On Monday, in the High Court in Edinburgh, attorneys agreed to convert the money into cash and set it at £109,601.

After being acquitted of violence and robbery but convicted of reset of stolen goods, Rennie received a community payback order with 150 hours unpaid work and six months supervision last year.

Lord Scott, the sentencing judge, said, “The fact that you are a first offender, albeit involved in an elaborate scheme to launder the proceeds of a robbery, is significant.

“It seems to me that your role in what happened was pivotal, even if the jury decided that it did not extend to participation in the robbery plan,” he remarked.

After a late-night raid at a Blantyre property on March 18, 2020, Rennie was discovered with the digital currency in an account.

A personalized Toblerone chocolate bar gravely hurt a lady during the heist.

The first Scottish police raid traced stolen cryptocurrency, and expert detectives found Rennie was responsible for the bitcoin wallet that received them.

Rennie then faced a proceeds of crime charge.

Lady Ross wants attorneys to discuss judicial seizure of cryptocurrencies. Because a seizure order for criminal profits has never been issued.

However, attorneys resolved concerns and informed Lord Summers on Monday that Rennie earned £109,601, which might be taken.

Lord Summers ordered the authorities to receive the money.