Tax Agents ‘Confiscate’ Bitcoin From Criminal but Keep the Coins in His Wallet

The State Revenue Service of Latvia (SRS) has seized some bitcoins for the first time. The cryptocurrency, allegedly acquired through illegal means, is still being stored in the wallet set up by a criminal. Experts have expressed concerns about the risk of the money disappearing as officials continue to insist only government agencies have access to the wallet.

Also read: US Government Auctioning off Bitcoins Worth $37 Million in 2 Weeks

Latvian Tax Authority Seizes Crypto Months After Court Order

The announcement from the tax administration comes after a court in the capital Riga decided in October that the cryptocurrency had been involved in criminal activity and must be confiscated from a convicted person. Prosecutors alleged that the digital money had been obtained illegally and used for settlements between criminals. “The gathered evidence provided sufficient reason to conclude that this cryptocurrency was obtained in a criminal way and is…