French Officials Seize $272,800 From Illegal Bitcoin Exchange
French police have seized 388 bitcoins from a bitcoin exchange operating illegally in the country. The coins are worth roughly €200,000 (or $272,800) at current prices. Three were arrested in Cannes, Nice and Toulouse on suspicion of operating a website that illegally sold and lent bitcoin to its registered users. Sources said a retired policeman tipped off the financial authorities when he bought bitcoin at the exchange. The prosecutor in the investigation Olivier Caracotch said that this is the first European case in which judicial action has brought on the closure of an illegal virtual....
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In the first ever operation, French police have shut down an illegal Bitcoin exchange, and in the process seizing 328 “virtual currency units” worth around 200,00 Euros, or $272,800 at current exchange rates. According to Reuters, two people in the Riveria coastal cities of Cannes and Nice were placed under investigation Friday, under the suspicion they were running a website that illegally sold and lent Bitcoin to its users. In a raid that happened last week to one of the suspects residences, investigators seized a portfolio of Bitcoins, credit cards and computer hardware.
For the first time in European history, the French Police arrested three individuals suspected to run an illegal Bitcoin exchange. This marks the first bitcoins obtained by the French Government. In a recent press release, France's National Gendarmerie, a branch of the French Armed Forces, announced that they made three arrests during raids in Cannes, Nice, Toulouse and Brussels. The arrested people are suspected of running an illegal Bitcoin exchange. They were targeted due to the lack of certification from the ACPR, as outlined in a report: "The site used to trade without any approval of....
The French Police have taken apart an illegal Bitcoin exchange assumed to be bestxchanger.com, which is currently “under maintenance.” Authorities confiscated 388 bitcoins worth nearly US$272,800. Two individuals were placed under investigation as they were suspected of operating a website that sold Bitcoins illegally to the users. A special branch of the French Armed Forces, the National Gendarmerie of France, announced in a recent press release that they made three arrests during various raids in Toulouse, Cannes, Nice, and Brussels. Those arrested are suspected of owning an illegal....
Prosecutors from the Netherlands have seized 2,532 bitcoins worth $33 million after a couple was convicted of money laundering by the Rotterdam District Court. The man and his wife were sentenced to two years for illegal money transmission and the court claims the couple’s bitcoin stash was used on the deep web. Dutch officials recently arrested and charged a man and his wife for illegal money transmission and money laundering. According to the Dutch Public Prosecution Service from the Rotterdam District Court, the two suspects laundered close to $19 million using bitcoin during the....