Lithuania's tax authority converts confiscated cryptocurrency into EUR 6.4 mln
2020-12-28, 15:08
Published in
Society
AFP Scanpix / George Frey
Lithuania's State Tax Inspectorate has for the first time realized confiscated cryptocurrency, transferring 6.4 million euros to the state budget. The tax authority said in the end of November that 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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