Bitcoin Saxony Treasure's Fate Uncertain as Sale Details Remain Elusive
The fate of the 'Bitcoin Saxony treasure', seized from the Movie2k platform, remains uncertain. The Saxon government has yet to comment on whether parts of the 44,692 Bitcoins, currently valued at around 2.6 billion euros, have been sold. The sale and distribution of such assets are governed by strict legal procedures.
Confiscated assets can only be transferred to the budget once a court ruling is in place. If the value exceeds 500,000 euros, the Ministry of the Interior receives 52.5 percent, while the Ministry of Justice gets 22.5 percent. An emergency sale can be initiated if the item is likely to lose value rapidly, as per §111p StPO.
So far, around 5,000 coins, worth approximately 300 million euros, have been sold. The authorities have used platforms like Coinbase and Kraken for these transactions. However, the conclusion of the proceedings and the distribution of the seized money remain uncertain. Marco Böhme from the Left Party has inquired about these details, seeking clarity on the sale and distribution of the Bitcoin proceeds.
The Saxon government has not yet commented on the sale of the 'Bitcoin Saxony treasure'. The sale and distribution of these assets are subject to strict legal procedures, with a significant portion going to the general state budget of the Free State of Saxony once a court ruling is secured.
Read also:
- Industrial robots in China are being installed at a faster rate than in both the United States and the European Union, as the global market for these robots faces a downturn.
- Undeads Games Reaches $30 Million TVL and Gears Up for MMORPG Debut
- Hyundai N affirms transition to hybrid performance-centric models, initiating with Tucson N
- Bank of America reveals investigation into Zelle platform, hints at potential legal action
