Irish Lawmaker Calls for Investigation Into Bitcoin and Deep Web
A member of the Teachta Dála, the lower house of Ireland's Parliament, has urged fellow lawmakers and the parliamentary communications committee to investigate the effect of digital currencies on illicit financial transactions. Patrick O'Donovan, who is a member of the centre-right Fine Gael party, wrote to the committee asking them to investigate the use of digital currencies, claiming that they have created an "online supermarket" for illegal goods and services. He also called for more controls on payments made using digital currencies, reports The Journal. A boon for black markets.....
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An Irish lawmaker is seeking an investigation into bitcoin and other digital currencies, and has reportedly called for "more controls" when it comes to bitcoin. Patrick O'Donovan write to the Oireachtas Communications Committee requesting said investigation on digital currencies, which he has suggested has led to an "online supermarket" of illicit activities. This effectively operates as an online supermarket for illegal goods such as drugs, weapons and pornography, where it is extremely difficult to trace the identity of the buyers. We need a national and international response to clamp....
This week the Irish police in coordination with several other police organizations around the world, has begun a big operation codename Onymous, against the illegal market Silkroad and other organized movements acting inside the darknet sphere. Today morning the Garda National has seized an illegal operation from an Irish silk road based drug trafficker. Ecstasy tablets, LSD and other controlled drugs nearing €180,000 in value, have been seized by Gardaí in a raid on ‘Darknet’ drug distribution centre in Dublin. Members from the Garda National Drug Unit, the Criminal Assets Bureau (CAB)....
Hiding the drugs was a challenge for these three men, and they resorted to using jigsaw puzzles most of the time. Packages were sent out via couriers, who would then deliver goods across Northern Ireland. The dark web once used to be a place where anonymity was virtually guaranteed, and internet criminals got away with just about anything. But that is no longer the case, as more and more people get arrested for their illicit activities. Moreover, using Bitcoin as a payment method is not helping to hide tracks, as three Irish men have found out the hard way. Although the involvement of....
As authorities in the EU are still discussing union-wide cryptocurrency regulations, a major U.S. bank has reportedly lobbied the Irish government to adopt its own rules for the space. BNY Mellon launched its digital asset business in Ireland this year to provide custodian services to institutional investors.
Banking Giant BNY Mellon Calls for Irish Crypto Regulations
U.S. banking corporation BNY Mellon, which established a crypto unit in Ireland this spring, has urged the country’s finance ministry to introduce crypto regulations while the EU rules for the space are....
Irish police are on high alert due to the rising number of cases related to a bitcoin-related scam targeting high-net-worth people in the country. The situation has become worrisome because suspicious high-value transactions have already been noticed by authorities. Authorities Already Searched One Property Tied to One of the Suspects According to The Irish Times, Gardaí (Ireland’s police) investigates what they consider a major crypto scam whose criminals could be residing in the country. A local bank already raised concerns about a suspicious transaction of 500,000 euros....