Belgium Government to Auction Over €110,000 Worth of Confiscated Bitcoins On March 24

News / 10.03.2020

The Belgium government is all set to auction more than €110,000 worth of confiscated bitcoin and other cryptocurrencies.

According to the announcement last Friday. the upcoming online auction will start from 12noon GMT on Tuesday, March 24. The whole event will run for 24 hours, and begin to time out from 12noon GMT on Wednesday, March 25.

The crypto assets will be split across Lots, ranging from 0.25BTC to 1BTC. Other cryptocurrencies that will also be auctioned by the Belgium officials include, Bitcoin Cash and Bitcoin Gold.

Wilsons Auctions is Ireland and UK’s largest independent auction company and will be hosting this upcoming auction of confiscated cryptocurrencies.  The Auction will be conducted by the company’s Dublin branch on behalf of the Belgian Federal Government.

According to Mark Woods, an Asset Recovery Executive at Wilson Auctions, buying crypto through exchanges can be a risky and daunting process. He said their company offers guidance throughout the process in order to help both newcomers and experienced investors to participate on a level playing field.

The company’s Asset Recovery Director, Aidan Larkin also said their Asset Recovery work has resulted in requests for assistance from various institutions and government agencies around the world to manage their seized assets. He claims cryptocurrencies are the most prevalent assets being brought, due to the complex requirements of securing them.

Featured image courtesy of Shutterstock. Source: Cryptopress.

Born in Bucharest, Marius is the founder of Crypto Adventure. Since his first contact with Bitcoin and cryptocurrencies, he never stopped believing that they are one of the most important innovations of our time, which will forever change the way business is done.