Cryptocurrencies, Legislation, Lithuania
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Saturday, 20.04.2024, 13:51
Lithuania's tax authority converts confiscated cryptocurrency into EUR 6.4 mln
BC, Vilnius, 24.11.2020.
Print version
Print versionLithuania's State Tax Inspectorate has for the first time realized confiscated cryptocurrency, transferring 6.4 million euros to the state budget, writes LETA/BNS.
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The tax authority said on Tuesday it had taken almost 24 hours to convert the cryptocurrency into euros.
"The whole process was new for the tax administrator, from taking over the confiscated cryptocurrencies to realizing them," Irina Gavrilova, director of the inspectorate's Tax Arrears Administration Department, said.
The authority took charge of the confiscated cryptocurrencies – Bitcoin, Monero and Ethereum – in February.
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