Is there a difference? It's like we were to say that it's not USA that sold but Alaska. Does have it's own army, does it have borders, do they elect their own president, or chancellor?
If the answer is no, there's no need to differentiate.
The real problem is someone in that independent state is manipulating the market by moving bitcoin to exchanges and back to spook investors instead of selling it since they apparently want to do that. Why not sell OTC if they had such offers and this would be more profitable to them? Or maybe the deal is that they want to lower the price because they have short positions open?
The longer it takes before they actually sell their coins the more you can be sure it's a manipulation.
I think they elect there own president, I might be wrong but they might not have their own army. Well, I have the same idea that what's the point in clarifying by media that it was not Germany but Saxony? Speaking of why they are selling via exchanges and why they are not doing OTC, I think they really want to affect the market because when the price dropped to $56k I suppose they bought BTC as well. And then they started selling them again.
As of posting this reply, I think they have done selling all of there holdings and maybe that's why we are seeing a pump in the market that BTC crossed $60k today. It's a good sign. And obviously they might not be getting good deal via OTC and I think OTC deals are lesser than the Market price. That's why there preferred market. The question is can we do something about such selling? I think no, because every holder has the right to sell wherever they want to sell it.