Romanian Authorities Holding First Auction Involving Seized Bitcoin and Ether

Romanian authorities are hosting the country’s first-ever auction for cryptocurrency seized from a criminal case involving fraud.

According to an announcement, the National Agency for the of Seized Assets (ANABI) will be holding an auction for confiscated bitcoin and ethereum. The decision is the result of a required ruling from the Prosecutor’s Office in Ploiesti Court to offload the previously seized crypto-assets.

While the exact amount of bitcoin and ether has yet to be released, the announcement claims “anyone” will be able to participate in the auction via ANABI’s online platform.

The report reads, 

Taking into account the nature of the moveable property up for auction, the successful tenderer will have to inform the Agency, to proceed with the transfer, about the BTC and ETH public addresses associated to a virtual currency trading platform.

ANABI says prospective buyers will have to adhere to platforms belonging to a “legal entity” and must comply with legislative norms for operating state financial instruments. The report says potential auction clients will be required to provide Know Your Customer (KYC) procedures in to register.

Earlier in the year Romania, alongside Ireland, was fined by the European Court of Justice for the country’s delay in incorporating the EU’s new anti-money laundering and terrorism finance directives, which included provisions on the trading of crypto-assets on exchanges.

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More