Romanian authorities have announced the country’s first ever auction of seized crypto assets. 

Earlier today, Romania’s National Agency for the Management of Seized Assets (ANABI) confirmed it will be holding an auction for confiscated Bitcoin (BTC) and Ether (ETH). The action is in response to a ruling from the Prosecutor’s Office in the Ploiesti Court, and involves cryptocurrency seized during a fraud case. 

ANABI has stressed that it will only transfer the crypto assets to a winning bidder who provides public addresses associated with a legal and registered crypto platform, adhering to Romania’s legislative norms, and complying with Know Your Customer and Anti-Money Laundering provisions. 

As previously reported, it was only in July 2020 that Romania finally brought its cryptocurrency regulations up to full 5AMLD standard. 

AYO.NEWS says:

It’s no secret that there’s a whole lot of cryptocurrency sloshing about in the criminal world, so we can expect to see this kind of thing become common as courts and various authorities become more comfortable with handling crypto. In February, the United States Marshals Service (USMS) auctioned over 4,000 confiscated Bitcoins (BTC), worth around $37.4m USD at the time. 

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