Analysis: Germany’s sale of BTC is a routine criminal investigation procedure because the seized assets need to be liquidated within the deadline

The crypto wallet of the German Federal Criminal Police (BKA) has recently begun transferring thousands of bitcoins to exchanges such as Kraken, Coinbase and Bitstamp, indicating an intention to sell these bitcoins. The wallet's bitcoin holdings have been reduced to 23,788. Lennart Ante, co-founder and CEO of the German Blockchain Research Lab Blockchain Research Lab, pointed out that the German law enforcement agency's sale of bitcoins is not an investment strategy, but a standard procedure for confiscating assets in criminal investigations. In addition, the analysis found that it was not the German government itself that sold bitcoins, but a small state in eastern Germany called Saxony. The Saxony State Prosecutor's Office is responsible for liquidating confiscated assets, so this asset sale is not surprising. It is reported that the seized assets need to be liquidated within a certain period of time. This is a routine business process, although this time the scale is larger than normal. In most cases, confiscated assets can only be transferred or sold if a judge rules that the state government is allowed to do so, and the proceeds will go into the state budget, but this is not the case in this case, but states can request to initiate emergency sales, for example, if the value of the assets may depreciate rapidly or it is difficult to store. (Coindesk)