Belgium government is all set to auction off confiscated bitcoins

[Mercury]

The officials in Belgium are all set to auction over €110,000 ($125,000) worth of bitcoin and other cryptocurrencies that were seized from criminals.

Wilson Auctions on Friday announced that they will hold an online auction of the crypto funds later this month. Bitcoin, Bitcoin Cash and Bitcoin Gold are among the cryptocurrencies that will be auctioned off by the Belgium officials. Wilson Auctions so far has helped the UK authorities auction off more than $1 million in cryptocurrencies. A Crypto news aggregator like Cryptopanic can help you remain updated with the crypto industry in a hassle-free way.

“Newcomers and experienced investors both can participate in the process.”

The asset recovery executive at Wilson Auctions, Mark Woods, said that buying crypto via exchanges can be a risky and daunting process. He added that they offer guidance throughout the process, which helps both newcomers to the world of cryptocurrency and experienced investors can all participate on a level playing field.

Finland authorities are confused over liquidating confiscated crypto.

Finland authorities are unsure about what to do with 1,666 bitcoins that they seized from a drug bust years ago. The reason the authorities gave over why they do not want to auction off the seized funds is that the funds once auctioned might end up in the hands of criminals once again. The reason seems quite absurd as liquidating any asset, whether gold, real estate or vehicles might put those assets back in the hands of criminals. In February, the US Marshals Service auctioned off over 4,000 bitcoins worth $39 million at the time.

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