Czech Government Survives No-Confidence Vote Amid Bitcoin Donation Scandal
The Czech government survived a no-confidence vote linked to a $45 million bitcoin payment from a convicted criminal. This situation has raised concerns ahead of upcoming national elections.
- A total of 468 bitcoin was donated by a man previously convicted for operating the Sheep Marketplace drug site.
- The donation, accepted by former Justice Minister Pavel Blazek, was sold for approximately 1 billion Czech koruna.
- Opposition party ANO filed the no-confidence motion, alleging potential money laundering risks associated with the bitcoin's origin.
- Critics argue that authorities should have been involved in handling the funds.
- The motion failed after two days of debate due to the ruling coalition holding a majority.
- Blazek claimed he acted legally, as the donation comprised about 30% of the crypto recovered from the donor's devices.
- Czech National Bank is exploring bitcoin as a reserve asset, distinguishing it from other cryptocurrencies.
Current trading odds suggest ANO is favored to win the October election at 92%, while Blazek’s ODS party stands at 6%.