The United Kingdom government has decided to auction off the cryptocurrency seized from different operations through an independent contractor from Ireland.
The auction house Wilson Auctions has become the first in the UK to host such a fiat while other countries have seen such events across the globe including the United States of America and Bavaria.
The auctions call for bidding of over one hundred and sixty-seven (167.7) Moneros at an exchange rate of eight thousand four hundred and seventy-two dollars ($8472.29) however the auction would be performed in pound sterling at a rate of six thousand six hundred and fifty-five (£6,655.36) pounds.
The auction is first of its kind across the globe since it would allow the bidders to and investors to view the live price of the coins and place their bids accordingly.
The auction is the first of a series that the Wilson Auction house would be hosting and this is not the only government the auction house is currently engaged in business. They are believed to be working with as many as forty (40) different government and law enforcement organizations across the world.
The series of auctions would also put out one thousand three hundred and twelve (1312) Bitcoins, one thousand three hundred and ninety-nine (1399) Bitcoin Cash, one thousand three hundred and twelve (1312) Bitcoin Gold as well as two hundred and twenty (220) Ethereums.