Lower Saxony owes Bitcoin sales revenues of 400,000 euros

Somebody else says that the German state or countries shy away from contact with the crypto currency sector. In any case, the state of Lower Saxony owes sales of Bitcoin and other coins a quite respectable increase in revenue since 2010. However, these were not its own digital currencies. Rather, they were currency reserves that had been previously secured.

Cybercrime increasingly occupies authorities – funds end up in the state treasury

In many federal states, the authorities are taking action against illegal machinations in connection with Bitcoin and other digital currencies. In Lower Saxony, three public prosecutors are involved in investigations into the crypto market. The investigators in Göttingen and Verden have been active for some time, the Osnabrück Public Prosecutor’s Office has only been involved since the end of 2017. Since the start of the work, the authority has contributed 90,000 euros to the total revenue.

Public prosecutors and police investigate specifically

The federal state of Lower Saxony as a whole has been able to flush a sum of just over 413,000 euros into the state coffers since 2010 thanks to the sale of secured foreign exchange. According to media reports, the money confiscated stems from transactions involving drug trafficking, arms sales and other crimes. In Osnabrück, for example, the “Taskforce Cybercrime” is responsible for evaluating alleged criminal traces in the digital world. The result for the year 2018, on the other hand, has so far been rather sober.

2018 brought only minimal income

According to information provided by the authorities, only coins with a value of 450 euros were sold this year. The currencies from Litecoin to Bitcoin are secured by the wallets used by the authorities themselves. The money is “collected” by the authorities when perpetrators are convicted. Then the exchanged ones end up in the cash register of the respective state – because not only Lower Saxony has an eye on criminals who use crypto currencies for their machinations. The previous Bitcoin record for finds, according to the federal state, is almost 164 coins as well as a comparable number of coins of the currencies Bitcoin Cash and Bitcoin Gold. When exactly the authorities exchanged the currencies is not known.