The tax department in Lithuania has sold off confiscated cryptocurrencies for the first time, bringing in €6.4 million, or $7.5 million.
- "The whole process for the tax administrator was new, starting with taking over the confiscated cryptocurrency and ending with its implementation," said Irina Gavrilova, a representative of the tax department.
- The Tax Inspectorate gained possession of the digital assets in February, according to the report.
- No details were provided on why the cryptocurrencies were seized.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.