Crypto currency holders are not only institutional and individual investors. There’s more. States also have a significant amount of Bitcoin in their possession. Germany has now made an important announcement regarding crypto assets seized from incidents like Silk Road that created serious FUD in the markets. According to Arkham data, the US alone holds BTC worth $9.5 billion.
Germany and Bitcoin
According to the police statement, German police have seized 50,000 BTC worth $2.17 billion. This has been announced as the largest crypto currency operation to date. It is known that these assets were seized during an operation related to a website that violated the Copyright Act in 2013.
The revenue generated from the venture was converted into Bitcoin, and one of the two suspects delivered the assets to the Federal Criminal Police Office (BKA). Although there are no official charges against the two individuals, an investigation into commercial money laundering is ongoing.
Today’s announcement by the police stated the following;
“The Dresden Public Prosecutor’s Office, the Saxony State Criminal Police Office, and the Leipzig II Tax Office’s tax investigation department secured 50,000 BTC as part of an investigation conducted by the Saxony Integrated Investigation Unit (INES).
The investigations were supported by the Federal Criminal Police Office (BKA), the FBI, and a forensic IT expert firm based in Munich. This was the largest amount of BTC ever seized by law enforcement in the Federal Republic of Germany.
The ongoing investigations into the commercial unauthorized use of copyright-protected works under the Copyright Act and subsequent suspicions of commercial money laundering, among other things, are directed at two individuals responsible for a German pirate company that operated until the end of May 2013 (male, 40 years old, German; male, 37 years old, Polish).
Until the end of May 2013, a leading German pirate portal. It is alleged that they purchased Bitcoin with the proceeds.”
