Saxony Sells Seized Bitcoins Worth €300M, Sparking Parliament Questions
The Saxon government has sold a significant portion of seized Bitcoins, previously linked to the now-defunct Movie2k platform. The sale, worth approximately 300 million euros, has raised questions among state parliament members about its handling and the distribution of proceeds.
The sale was initiated by the General Prosecutor's Office of Saxony under §111p StPO due to the volatile nature of cryptocurrencies. The LKA and BKA were involved for technical reasons but held no decision-making authority. The proceeds, totaling around 5,000 Bitcoins, have been transferred to the general state budget of the Free State of Saxony.
The distribution of funds follows a specific ratio: if the goods exceed 500,000 euros, 52.5% goes to the Ministry of the Interior and 22.5% to the Ministry of Justice. However, the Saxon government has yet to provide details on how these funds will be allocated.
The sale of the seized Bitcoins, a process that began due to concerns about their rapid depreciation, has concluded. The funds have been transferred to the state budget, with specific proportions allocated to the Ministry of the Interior and the Ministry of Justice. Further details on the use of these funds are awaited from the Saxon government.
