Bidders must be a legal entity, company with “know your customer” procedures, and meet Romania’s requirements of financial laws to fight money laundering. The winning bidder must also provide data on addresses associated with cryptocurrency exchange.
Romania is not the first country to hold a state-run auction on cryptocurrency used in financial crimes.
In February of 2020, the United States Marshal Service auctioned 4,040 bitcoins ($37 million worth) that were confiscated through various federal criminal, civil, and administrative proceedings, as previously reported.
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