{"id":119159,"date":"2020-11-24T17:16:47","date_gmt":"2020-11-24T14:16:47","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/lithuanian-tax-services-first-confiscated-crypto-sale-nets-7-6m\/"},"modified":"2020-11-24T17:16:47","modified_gmt":"2020-11-24T14:16:47","slug":"lithuanian-tax-services-first-confiscated-crypto-sale-nets-7-6m","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/lithuanian-tax-services-first-confiscated-crypto-sale-nets-7-6m\/","title":{"rendered":"# Lithuanian tax service\u2019s first confiscated crypto sale nets $7.6M"},"content":{"rendered":"

“# Lithuanian tax service\u2019s first confiscated crypto sale nets $7.6M <\/strong>”
\n<\/p>\n

The Lithuanian government has reportedly sold a batch of cryptocurrency seized by local enforcement agencies.<\/p>\n

The State Tax Inspectorate, or STI, the country\u2019s tax authority, sold confiscated crypto assets worth 6.4 million euro ($7.6 million) and subsequently added the funds to the state budget.<\/p>\n

According to an official announcement<\/a> on Nov. 24, the seized crypto assets included major cryptocurrencies Bitcoin (BTC) and Ether (ETH) as well as privacy-focused altcoin Monero (XMR).<\/p>\n

The STI said this is the first time that the agency has sold seized crypto for fiat. \u201cThe conversion of cryptocurrencies into euros took almost a day,\u201d the authority noted.<\/p>\n

Irina Gavrilova, the director of the STI\u2019s tax arrears administration department, said, \u201cThe whole process was new for the tax administrator, from the takeover of the confiscated cryptocurrencies to their realization.\u201d She said that it will be much easier for the agency to sell confiscated crypto assets in the future.<\/p>\n

According to the announcement, the STI took over the confiscated funds in late February 2020. The authority did not specify how exactly the STI sold the seized assets but noted that the exchange process required the STI to create a crypto wallet in order to receive crypto from law enforcement agencies.<\/p>\n<\/div>\n

If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n

\n

For forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n

\n

If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“# Lithuanian tax service\u2019s first confiscated crypto sale nets $7.6M ” The Lithuanian government has reportedly sold a batch of cryptocurrency seized by local enforcement agencies. The State Tax Inspectorate, or STI, the country\u2019s tax authority, sold confiscated crypto assets worth 6.4 million euro ($7.6 million) and subsequently added the funds to the state budget….<\/p>\n","protected":false},"author":1,"featured_media":119160,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/99059f5d-6093-44ca-b28b-692581566f82.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74932,67880,55229,12313,70934,46483],"class_list":["post-119159","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-crimes","tag-auction","tag-law","tag-lithuania","tag-regulation","tag-taxes"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/119159","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=119159"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/119159\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/119160"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=119159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=119159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=119159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}