The IAEA authorized the auction house Kapandji Morhange to be responsible for the management and recovery of seized and confiscated assets, and this auction must be conducted.
EWhat if the French government uses the surge in cryptocurrencies to fill its vaults? As part of the court case, more than 600 bitcoins will be auctioned on Wednesday, March 17, 2021, valued at more than 30 million U.S. dollars at current prices. This is the first time in France. French auction houses are accustomed to buying and selling cars or works of art with a hammer, thanks to the 2015 law on intangible movable property, which allows them to sell cryptocurrencies. Last fall, after handling a case in the “Network” department of the Paris Prosecutor’s Office, the agency was commissioned by the agency that manages and recovers confiscated assets (Agrasc), which is owned by Kapandji Morhange auction house Most of the collections were sold online for the first time.
When preparing for this event, “we took a moment” to welcome auctioneer Ghislaine Kapandji to Agence France-Presse: When the preparations began last September, Bitcoin’s The price is about US$10,000, which is a far cry from the long history. The weekend reached a peak of more than US$60,000, which gave the sale of these 611 bitcoins a new look. Even though it is often accused of being speculative assets or being used by criminal networks, the most famous virtual currency has experienced a historic boom in recent months. It is also called the “automaker Tesla” by the iconic company, which bought it for $1.5 billion, or BlackRock, the world’s largest fund management company, which has now expressed its willingness to treat it. Make investments.
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If this is the first such auction in France, it has been held abroad for several years. The first time it was held in the United States in 2014, followed by Canada, Australia, Belgium or the United Kingdom, and then designated Kapandji Morhange. He explained that he was inspired by these experiences to organize his own auction.
The auction is organized at 9 am and will start at around 60% of the Bitcoin price observed on Wednesday morning. Nearly 1,600 people have registered to participate, most of whom are traditional traders, mainly French residents, as well as Belgian and British residents. The auction is divided into two parts: 437 batches of 0.11 to 2 bitcoins in the morning, and then 42 batches of 5 to 20 bitcoins in the afternoon. In particular, the registrant is required to provide a deposit of 10,000 euros for the most expensive lot, as well as multiple documents to prove his identity and place of residence. Ghislaine Kapandji explained about the precautions taken: “Our expenses are not high.”
At the end of the current legal case, if Bitcoin is eventually confiscated, the sale proceeds (excluding auction house commissions) must be allocated to the budget of the French government, potential victims or charity. On the other hand, if released, the sale proceeds will be returned to the defendant, which has recently been assigned to the defendant. Figaro Nicolas Bessone, general manager of Agrasc. During this period, the funds from the sale will be deposited in Caisse des Dépôts.
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When asked about the current court case, the Paris prosecutor temporarily declined to comment. On the buyer’s side, the transfer of Bitcoin will be directly transferred from the secure account to the cryptocurrency wallet of each future owner. As with other auctions, the legal transfer will take place at the end of the day.