As reported in a report on CNN's Prima News, the Justice Department is intensively negotiating an out-of-court settlement that could bring compensation to investors harmed because of the misconduct of civil servants. Lawyer Kirill Juran, who represents some of the buyers in the case, was also present at the key meeting at the Ministry.
How did the problem with hundreds of millions worth of Bitcoin come about?
The whole case began when the police seized cryptocurrencies as part of a criminal prosecution. At the time, former Justice Minister Pavel Blažek (ODS) called the bitcoins a gift to the state and had them auctioned off in auctions where they sold for more than 956 million crowns. However, the police later charged the donor Tomas Jiřikovský with money laundering and confiscated some of the bitcoins that the buyers were supposed to have in their possession.
The crux of the problem is that those who bought bitcoins at auction either did not get them at all, or were unable to trade them due to questionable origin. This led to huge financial losses as the value of the cryptocurrency plummeted in the interim.
Deal offer: “Return the money, we will move the delivery date”
In a report for CNN Prima NEWS, Kirill Juran presented a draft agreement to bring the situation out of the legal stalemate. The settlement is expected to involve two groups of investors who together paid for more than 338 bitcoins nearly CZK 663 million.
“So give us back the money we paid, let's push forward the delivery date. We are currently able to push it up by a year, two. We will not sue you and will push back the Bitcoin delivery deadline so that you are not in arrears. We will give up all the damage and see how things move in the future,” Kirill Juran told CNN Prima News.
Justice Minister Eva Decroix (ODS) told CNN's Prima News that a settlement agreement is always a better solution than a long court battle. However, she stressed the need to find a common consensus among all parties in order to conclude an agreement.
Why is case resolution important for Czech digital entrepreneurs?
The Bitcoin case goes beyond just a dispute over money. This is a precedent that will determine how the state will treat digital assets in the future. Resolving the situation through an out-of-court agreement would send a strong signal that the state is willing to take responsibility for its mistakes and treats cryptocurrencies as a full-fledged asset that requires legal protection.
This case is clear evidence that the digital world is intertwined with the traditional legal and state system. For all entrepreneurs and investors who move in the area cryptocurrencies, it is a reminder of how important it is to have an experienced legal partner by your side in such complex situations.
Source: cnn.iprima.cz