The South Korean government will auction $540 thousand bitcoin

The South Korean government will auction $540 thousand bitcoin

According to local media reports in South Korea, the South Korean government plans 216 bitcoin auction in 2016 in the confiscation of criminal investigation.

Seoul Economic Daily News (SeoulEconomicDaily) reported that time, this batch of bitcoin worth about $540 thousand, is South Korea’s Gyeonggi Do Police Agency (SouthGyeonggiProvincialPoliceAgency) confiscated cyber crime investigation of the April arrest of operation yellow site 33 years old so and so. This is the first such auction.

The state owned assets supervision and the development of South Korea’s Asset Management Co (KAMCO, KoreaAssetManagementCorporation) that contains the encrypted currency, any confiscation of financial assets is the government assets, will be a public auction.

The final bid is expected to slightly lower than the market price, CoinDesk bitcoin price index (BitcoinPriceIndex) shows that the current market price is about $2525. KAMCO announced that 3% of the proceeds from the auction will be owned by the South Korean government all.

During the auction, South Korea local encryption money market is in the rising period.

Bithumb, Korbit, Coinone trading volume of domestic trading platform in recent months increased significantly, CoinMarketCap data show that currently accounts for Ethernet Ethernet network Fang won currency trading volume 32.26%.

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