Minister of this country resigned over $45 million ‘Bitcoin gift from drug dealer’ | World News

The scandal erupted after local media reported that the ministry had accepted a “cryptocurrency gift” from a convicted drug dealer, later selling the Bitcoin for around 1 billion koruna (approximately $45 million), according to a Bloomberg report.

State prosecutors then launched an investigation into the matter.

Although Blazek denied any wrongdoing, he announced his resignation on social media platform X, stating that he was unaware of any illegal activity but did not want to tarnish the government’s image.

“I don’t want to damage the reputation of the government, nor the governing coalition,” he wrote.

Earlier, Czech Republic’s justice minister Pavel Blazek defended the transaction, arguing there was no evidence that the cryptocurrency had criminal origins. Nonetheless, the revelation sparked a political storm, especially with national elections looming in October.

Prime Minister Petr Fiala, whose coalition is currently lagging behind in the polls, acknowledged Pavel Blazek’s intentions and described the resignation as a “responsible” act.

“I’m convinced Minister Blazek acted in good faith,” Fiala said, while noting the move was necessary to protect the integrity of the government.

Elections are due in October in Czech Republic, where its most popular political party has pledged to seek full state ownership in power producer CEZ AS to boost energy security if it returns to government.

The ANO group, led by billionaire former Prime Minister Andrej Babis, is weighing three different paths to raise the government’s ownership to 100 per cent from 70 per cent, the party’s deputy leader Karel Havlicek said in an interview, according to Bloomberg.

The buyout of minority stakes in the biggest traded generator in eastern Europe, with a market value of about $29 billion, would be funded by CEZ itself, he said.