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    Czech Government Maintains Stability After Surviving No-Confidence Vote Linked to Bitcoin Controversy

    wsjcryptoBy Nessun commento3 Mins Read

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    The Civic Democratic Party of Czech Prime Minister Petr Fiala endured a fourth effort to unseat their administration in three years — this occasion involving opposition factions banding together over a $45 million Bitcoin scandal.

    This controversy revolves around a donation of 1 billion Czech koruna ($45 million) in Bitcoin (BTC) made to the Ministry of Justice on May 27 by Tomáš Jiřikovský, an individual previously convicted of drug trafficking, firearms offenses, and embezzlement.

    The no-confidence motion initiated by Czech opposition parties ANO, SPD, and the Pirates garnered only 94 votes, seven short of the required 101 for approval. The voting followed over 24 hours of discussion in Parliament, as reported by České Noviny on Monday.

    No-confidence votes occur when an individual or opposition faction believes the existing leadership is incapable of governing properly.

    Although Fiala’s party survived the no-confidence vote, the scandal intensifies growing apprehensions regarding how government officials are engaging in crypto-related activities that may conflict with their responsibilities.

    Recent disputes include US President Donald Trump’s financial gains from his numerous crypto endeavors and Argentine President Javier Milei’s participation in the Libra token scandal.

    Czech PM acknowledges errors were made

    Fiala stated that the $45 million Bitcoin donation could have been avoided and admitted that the occurrence has disturbed public confidence in his party.

    The Civic Democratic Party intends to “accept accountability for ethical improprieties,” Fiala mentioned in a Czech-English translated statement from the report by České Noviny.

    However, he accused the opposition parties of utilizing the discussion to “hurl accusations, insults, and falsehoods” at his party in a message on X on Wednesday.

    The previous three no-confidence motions against the Civic Democratic Party took place between September 2022 and October 2023, pertaining to issues concerning energy, inflation, and surveillance.

    Newly appointed justice minister to investigate the Bitcoin donation

    The event resulted in former Justice Minister Pavel Blažek’s resignation on May 30, while Finance Minister Zbyněk Stanjura is also under pressure to step down amid allegations that he was aware of the donation.

    On June 10, Czech President Petr Pavel swore in Eva Decroix as the new minister of justice, who assured to initiate an independent investigation into the ministry’s actions.

    Related: Bitcoin, crypto dip as Trump says Iran’s leader an ‘easy target’

    She has since indicated that the Ministry of Justice, under her direction, would “facilitate cooperation in the investigation of the donation situation.”

    Source: Eva Decroix

    Details of the contentious Bitcoin donation

    Jiřikovský made a proposal to the Ministry of Justice for approximately a third of his cryptocurrency wallet — 1,561 Bitcoin — as a donation, sanctioned by a court order that returned his previously confiscated devices. 

    However, Jiřikovský — who was sentenced in 2017 and released in 2021 — had also managed another 3,855.15 Bitcoin linked to the illegal website Nucleus Market.

    Tech specialist Jiří Berger, who was present when Jiřikovský activated the wallet containing 1,561 Bitcoin, remarked that they are unable to access the larger reserve of 3,855.15 Bitcoin due to its storage on outdated technology.

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