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Home Tech Crypto Exchanges outdo auctions for governments cashing in criminal crypto, says exec

Exchanges outdo auctions for governments cashing in criminal crypto, says exec

Document Analysis NLP IA

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3:14
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neutral
sentiment

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objective
redaction

Subjectivity0.38514384920635
probably it's an affirmation
Affirmation0.29464285714286

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Summary (IA Generated)

Earlier this week, Lithuania‘s tax service, the Lithuanian State Tax Inspectorate, added $7.

However, unlike the United States Federal Marshals, which netted $37 million at auction from confiscated crypto last February, the STI opted to sell the crypto through an exchange.

According to Linas Rajackas, CEO of Vilnius-based crypto startup Kaiserex, this seemed to work out in the regulator’s favor:.

4 million euro) on exchange fees, legal contracts and crypto transaction services.

”.

The STI chose Kaiserex as a technology partner for selling the cryptocurrency via a public tender.

“The goal of the STI was to convert the cryptocurrency into euros as soon as possible.

According to Janušienė, the crypto sale started on Nov.

Rajackas speculated that “ have consulted with professionals in the field and it was obvious that selling at large OTC desks would be much more profitable than doing it in an auction.

Kaiserex completed the sale through an over-the-counter desk at a major cryptocurrency exchange.

Rajackas said, “I can not tell the OTC desk that we used, what I can tell is that it is in the top five crypto exchanges worldwide.

The bull market, in which Bitcoin briefly broke the $19,000 threshold, was one reason the sale was so profitable, according to Rajackas.

“This made it possible to sell the available cryptocurrency at record prices and extract the maximum amount of euros,” Rajackas said, adding:.

Kaiserex is a cryptocurrency exchange acting as a broker connected to more than 40 crypto exchanges and multiple OTC desks.

Rajackas, who owns 100% of the company shares, says that Kaiserex is not listed on major crypto websites like CMC because it does not have internal order books and relies on other exchanges for liquidity.


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