When investigators seize cryptocurrencies from illegal transactions, they often face a number of problems. The Frankfurt prosecutor's office has now found a partner to exchange such cryptocurrencies for euros.
100 million euros in cryptocurrencies - this catch was caught by the Frankfurt prosecutor's office during the investigation of the drug environment. This is not the first time that investigators have been pulling this digital money. It's just hard to deal with it.
Cryptocurrencies are a problem for the prosecutor for many reasons, the market is very volatile. The money to which the state treasury is entitled can become much less very quickly. Yes, and the tax itself does not know the crypt, but would like to have money in euros. In addition: Bitcoins and Co. from illegal transactions are "marked" to a certain extent and therefore cannot simply be traded on public exchanges. Therefore, they must be returned to the legal cycle.
Exchange for euro with a bank
Therefore, the Frankfurt prosecutor's office received help from a Frankfurt bank, which is very active in the cryptocurrency business, and they know how to get good signals for cryptocurrency day trading. Over the past few weeks, experts have gradually listed various cryptocurrencies on different exchanges and exchanged them for euros. It was also a challenge for the bank to exchange such an amount without causing market turmoil. This procedure is new. More recently, prosecutors simply auctioned off the cryptocurrency. It was too uncertain for the Frankfurters, because at the auction, the proceeds can be significantly lower than the real value.
First framework agreement with a bank
The new cooperation is unique in Germany: the prosecutor's office and the bank have entered into a framework agreement. In future procedures, the resulting cryptocurrencies will now be sold directly on the respective stock exchanges. This may happen more frequently in the future. Because investigators have often had the experience that criminals want to get money from their illegal crypto-currency scams to a safe place.
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You are the best….much love.
I love an Ism-Free space! Peace and light.
This is a great policy because now you can make sure that people who don’t agree with you can’t challenge you in front of everyone. You’re awesome!! xxx peace and liberty and love.
actually, it’s a great policy because i don’t have to deal with nitwits like you who think that you’re entitled to be heard simply because you have awesome thoughts about how awesome Greenwald is and also, too free Bradley Manning. You insulted a co-blogger. This is my blog. You don’t have a right to be here. Go back to Salon.
Toodles!
Too many people out there in the world think they have some sort of right to piss on someone else’s living room floor in full view of the entire assembly. Fuck that noise. Stab ‘em hard, ABL.