Saxon Bitcoin Sale: Left Party Seeks Clarity on Funds Distribution
Marco Böhme, a Left party representative, has asked the Saxon government about the sale of seized Bitcoins and the allocation of the funds. The inquiry follows the recent sale of around 5,000 Bitcoins, worth approximately 300 million euros, by the Saxon General Prosecutor's Office.
The proceeds from such sales typically go into the general state budget of Saxony. However, if the value exceeds 500,000 euros, the distribution changes. In this case, 52.5 percent goes to the Ministry of the Interior, and 22.5 percent to the Ministry of Justice. The remaining 25 percent goes to the state treasury.
The 'Saxon treasure' of 44,692 Bitcoins is currently under the control of the Federal Criminal Police Office (BKA). The BKA is involved in the custody of these Bitcoins for technical reasons but has no decision-making power. The Saxon police have secured additional Bitcoins that have not yet been monetized, and any proceeds from their sale will also go to the state treasury.
An 'emergency sale' can be initiated under §111p StPO if the seized item threatens to lose value rapidly. This procedure is ongoing, and the Saxon government cannot provide more information at this time. Meanwhile, reports suggest that the German police is selling Bitcoins seized from Movie2k.
The sale of seized Bitcoins in Saxony is a complex process involving multiple ministries and law enforcement agencies. The funds generated go towards supporting the state budget and various ministries. As the procedure is still ongoing, further details are not yet available.
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