Danish Government Wants to Seize Jewelry and Cash: Is Bitcoin the Solution?
In urgent response to the increasing number of migrants in Europe, the Government of Denmark has announced a law that could allow the authorities to confiscate jewelry from refugees entering the country. According to the Washington Post, the proposal of the newly drafted law will pass Parliament in a matter of time. "The bill presented on 10 December 2015 provides the Danish authorities with the power to search clothes and luggage of asylum seekers - and other migrants without a permit to stay in Denmark - with a view to finding assets which may cover the expenses," the Danish Ministry of....
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The global war on cash, initiated by some of the leading economies and governments across the world, is starting to impact financial ecosystems. According to various sources, cash usage in countries including the US, South Korea and Denmark has decreased drastically and is presumed to decline even more in the foreseeable future. As cash continues to....
Denmark, a country where its population relies on cash less than most other European nations, is considering digitalizing its national currency. The central bank of Denmark is planning to issue its own Blockchain-based digital currency called e-krone as its reserve currency. Lars Rohde, governor of the Danish central bank responsible for overseeing cash production within the country, stated that the government doesn’t have any interest in printing its own physical or fiat money in the near future. Rohde aims to outsource the production of Danish krone and hopes to replace cash with its....
The U.S. government has today announced the results of one of the biggest ever seizures of drugs sold on the dark web.
Our society is evolving into a cashless economic infrastructure. Several European countries are trying to discourage people from using cash in order to pay for goods and services. That seems only normal, as cash transactions are a hassle when dealing with change amounts. The list of downsides when dealing with cash transactions is rather lengthy, and if Danish government has any say in the matter, Denmark will become completely cash-free in the near future. Cash Offers More Disadvantages Compared to any Other Payment Option. It is hard to imagine that cash will no longer be a part of daily....
On Dec. 21, the European Commission tightened controls on the inflow of cash and precious metals from outside of the EU. Describing its decision as a move to crackdown on terrorist financing, the Commission granted permission to border patrols to seize cash or gold brought in by suspects. Customs officials in EU states, as well as border controls, can seize and restrict the inflow of cash and precious metals without particular guidelines as to whom is suspected of terrorist financing or funding of militant attacks. Such ambiguity in the new proposals could potentially lead to the false....