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Bitcoin auction: North Rhine-Westphalia wants to auction confiscated bitcoins

2021-10-21T16:46:40.027Z

The Bitcoin boom, including among criminals, poses challenges for the judiciary: the authorities are increasingly securing digital money for criminal offenses. North Rhine-Westphalia is now starting the first online auction.



Enlarge image

A coin with the Bitcoin logo (symbolic image)

Photo: K. Schmitt / imago images / photo booth

After long preparations, the North Rhine-Westphalian judiciary will start its first auction for the digital currency Bitcoin in the coming week.

Bitcoins seized in connection with criminal offenses will be auctioned from Monday, according to the Ministry of Justice. "Bitcoin is the first and currently the strongest virtual cryptocurrency on the market - popular not only with legitimate market participants, but also with criminals," said a statement from the ministry. Accordingly, the law enforcement authorities currently own bitcoins in the double-digit millions.

The confiscated bitcoins can be auctioned on an online portal.

The NRW justice system also auctions other seized valuables, including cars, laptops and jewelry, on the Internet.

The price of the cryptocurrency is subject to strong fluctuations, which made planning the auction difficult.

The timing could well be worse: On Wednesday, the Bitcoin price reached a new record high of around $ 67,000.

mic / AFP

Source: spiegel

All business articles on 2021-10-21

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