Asset Forfeiture is the Next Attack Against Bitcoin
Government will never have to mine on hardware it buys. At least, they'll leave the buying up to you. This week a court in Virginia indicted Kim Dotcom and six of his alleged coworkers. The event is part of an ongoing attempt to prosecute Kim Dotcom. Since 2012, Virginia attorneys have accused Dotcom of Copyright Infringement, Racketeering, Money Laundering, and Wire Fraud among other charges. Those filings led to the January, 2012 raid on Dotcom's home in New Zealand. Seventy-six police and two helicopters assisted by the FBI seized Dotcom, $17 million in luxury cars, televisions and....
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The Electronic Recovery and Access to Data machine (ERAD), is a piece of new civil asset forfeiture technology that allows law enforcement to seize money directly from banks accounts by swiping a suspect’s debit or credit cards. This new addition to the cops’ arsenal of notorious civil asset forfeiture weapons has only strengthened the case for using....
In February 2014, the DEA seized $11,000 from Charles Clarke, a college student, who was never convicted of any crime. The DEA seized Clarke's money using a process known as civil forfeiture, and he still hasn't gotten any of the money back. While noticeably egregious, The Institute For Justice demonstrates that Clarke's case doesn't scratch the surface of what's being called "policing for profit". Civil Forfeiture. Civil forfeiture is a procedure that allows law enforcement agencies in the United States to seize property without convicting a person of a crime. The government doesn't even....
The Australian Federal Police (AFP) has confirmed that the Supreme Court of New South Wales has ordered the forfeiture of cryptocurrency belonging to a convicted hacker. “The amount of cryptocurrency forfeited, more than $1.2 million, is the largest Commonwealth forfeiture of cryptocurrency,” the AFP said. ‘Largest Commonwealth Forfeiture of Cryptocurrency’ The Australian Federal Police (AFP) announced Friday that a convicted hacker “has been ordered to forfeit more than $1.66 million [Australian dollars] in cryptocurrency and cash to the....
The United States Attorney for the Southern District of New York - Preet Bharara - today announced the forfeiture of about 29,655 bitcoins from the Silk Road server shut down late last year. The forfeiture comes as part of an audit of the servers that ran the infamous and illicit dark web drug-trading website. "With today's forfeiture of $28 million worth of Bitcoins from the Silk Road website, a global cyber business designed to broker criminal transactions, we continue our efforts to take the profit out of crime and signal to those who would turn to the dark web for illicit activity that....
The Department of Justice is looking to hire attorneys to assist it with developing digital currency regulations. As detailed in a job posting from 3rd November, the Justice Department's Criminal Division is seeking two applicants for its Policy Unit of the Asset Forfeiture and Money Laundering Section. The Justice Department is one of a number of regulatory bodies in the US with oversight of the tech. Though no specific knowledge of digital currencies is required, prospective candidates should possess “knowledge of anti-money laundering and asset forfeiture laws, processes and....