Bitcoin, Cryptocurrency, Don't Miss, Fraud and Scams

Going once… Going Twice…. : Hurry before you miss the BTC and ETH up for Auction

The Romanian authorities are fixed to treat their first-ever auction of cryptocurrency, confiscated from a scam case.

On Oct. 2, the National Agency for the Management of Seized Assets (ANABI) declared its anticipated auction of the seized Bitcoins (BTC) and Ether (ETH), as expected by a ruling from the Prosecutor’s Office in Ploiesti Court. The particular amounts of cryptocurrency up for auction have not been listed. In a press statement, ANABI said:

Considering the nature of the moveable property put up for auction, the successful tenderer will have to inform the Agency to continue with the transfer, about the BTC and ETH public addresses linked with a virtual currency trading platform.

ANBI has explained that the successful bidder’s crypto trading platform will require a legal and certified item that sticks to Romania’s legislative norms and financial instruments guidelines. It must consolidate Know Your Customer requirements for its customers and comply with domestic and foreign Anti-Money Laundering requirements.

As announced, Romania was earlier asked by the European Court of Justice for its lag in fully transposing the full gamut of provisions outlined in the Fifth Anti-Money Laundering and Terrorism Financing Directive cryptocurrencies — into national law. This July, Romania was fined, alongside Ireland, due to the delay, although the country had transposed the directive’s outstanding elements.

While the forthcoming auction is a national first, multiple auctions of cryptocurrencies seized in criminal cases have previously been held by federal authorities worldwide.

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