The first cryptocurrency auction (Bitcoin and Ether) will take place in Romania. The cryptocurrencies were confiscated by the Romanian authorities and will be sold to citizens following an auction.
All the winner has to do, besides the amount of money auctioned, is to provide a legal crypto-address, registered on a platform accepted by the authorities in the field.
This event is the first of its kind and it takes place in Romania. The cryptocurrencies put up for sale were previously confiscated in various fraud situations.
The announcement was made on October 2, 2020, but the competent authorities in the field have not announced the amount of cryptocurrencies that will be put up for auction.
As a general idea, Romania has not yet updated its legislation in the field, being often amended by the European Union. That is why this even is even more special for Romania. It is the first crypto-auction organized in this country, even though many others had been organized by authorities around the world.
Many states after prosecuting individuals in criminal cases end up owing huge quantities of crypto-currencies. Thus, the only solution to recover some money is to sell them.
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