Lithuania’s tax authority sells confiscated cryptocurrency for €6.4 million

The Lithuanian State Tax Authority has for the first time sold confiscated cryptocurrency for €6.4 million. The local publication Delfi reports, citing the agency. 

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Among the confiscated assets are Bitcoin, Ethereum and Monero. The proceeds from their sale were directed to the state budget.

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The exchange of cryptocurrencies for euros took almost a day, the tax authority said.

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In October, it was announced that in Romania, will be put up for auction bitcoins and Ethereum, confiscated in connection with a fraud case.

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In November, the analytics company Chainalysis stated that it is launching a program to help government agencies store and sell confiscated cryptocurrency.

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