Romania’s National Agency for the Management of Forfeited Assets (ANABI) has announced an auction of bitcoins and ethers confiscated in a fraud case.
The Romanian authorities announced that such an auction would be conducted in accordance with the order of the Prosecutor’s Office of the Ploiesti Court. The amount of digital assets put up for auction has not been disclosed. ANABI explained that the winners of the auction will need to provide their Bitcoin and Ethereum addresses so that the authorities can transfer funds to them.
However, the cryptocurrency exchange that the auction participants will use to receive funds must be registered in accordance with Romanian law and comply with the requirements of local regulators. In addition, the marketplace must comply with international personal identification rules (KYC) as well as anti-money laundering (AML) requirements.
Recall that last year Romania amended its tax legislation, approving a 10% tax on profits and income earned from the purchase and sale of cryptocurrencies. However, earlier, a representative of the Central Bank of Romania said that crypto assets cannot replace ordinary money, since they do not perform the basic functions of currencies.
The holding of such an auction by the Romanian government suggests that the country is loyal to the cryptocurrency industry. In 2018, Romania drafted a bill on electronic money, according to which its issuers must confirm their tax and legal documents, as well as obtain the approval of the National Bank of Romania (BNR).