Lithuania Makes Millions in First Sale of Seized Cryptocurrency

Lithuania’s tax authority has sold the cryptocurrencies it previously seized for 6.4 million euros (approximately $7.6 million). The three cryptocurrencies confiscated were bitcoin, ether, and monero. This was the first time the tax authority sold seized cryptocurrencies. Lithuania Sold Seized Cryptocurrencies The State Tax Inspectorate (STI) under the Ministry of Finance of the Republic of Lithuania announced Tuesday that it has sold the cryptocurrencies it confiscated in February and transferred 6.4 million euros to the state budget. The tax authority explained that this is the....

The government of Finland is discussing supporting Ukraine with part of the money from the liquidation of millions of dollars worth of cryptocurrency seized in crime investigations. Finnish authorities want to sell the bitcoins soon and say they couldn’t come up with a better idea for the proceeds. Finland Selects Brokers to Sell $75 Million of Confiscated Crypto Authorities in Helsinki have recently chosen two brokers to organize the sale of over €71 million ($75 million) worth of bitcoin (BTC) in the coming weeks. The country owns the coins that have been sized....

Binance’s regulatory troubles continue with Lithuania being the latest country to issue a warning about the cryptocurrency exchange. Lithuania’s announcement came one day after Italy issued a similar warning. Lithuania Warns Binance Lithuania’s central bank announced Friday that it has issued a warning to Binance UAB about its unlicensed investment services provided in Lithuania. The central bank also “ordered the company to ensure that its publicly available information is not misleading.” The central bank explained that it has assessed publicly available....

A Brazilian federal court ordered the sale of a bitcoin stash worth $1.1 million. The sale was conducted by the largest regulated exchange in the country, Mercado Bitcoin. The Federal Police seized the bitcoin sold from Tradergroup, a company that allegedly was operating as a Ponzi scheme, under the facade of being a cryptocurrency investment company. This is the first time a Brazilian court order initiated a bitcoin sale from seized assets in the country. Brazilian Court Ordered to Sell Tradergroup’s Seized Bitcoins A federal court in Espirito Santo ordered the sale of $1.1 million....

According to several reports, the U.S. government has announced another Bitcoin auction on August 22, selling 2,719 BTC — worth $1.6 million USD at press time — confiscated by authorities. This will be the latest auction of cryptocurrency since the last U.S. Marshals (USMS) sale last year. Multiple Forfeiture Cases Allows USMS to Hold Another Bitcoin....