A Small Town in Illinois Moves to Sell Confiscated Bitcoins
A small town located outside of Chicago is about to sell some bitcoins. The village of Vernon Hills, Illinois, is currently in possession of roughly $10,000 worth of the digital currency, according to The Chicago Tribune. That amount, seized last year during a criminal drug investigation by local police and federal agencies, is set to be sold off in the days ahead. Local officials approved a plan to use Coinbase to sell the confiscated coins during a town meeting on 24th January. While not as flashy as one of the US Marshals’ bitcoin auctions or the $19m worth sold in Australia last year,....
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Vernon Hills, Illinois, a Chicago suburb, will sell $10,000 worth of bitcoins that police seized from criminals, according to The Chicago Tribune. The bitcoins were seized during joint police investigations with federal authorities. Village trustees authorized Nikki Larson, the village finance director, to begin the process of selling the bitcoins. Police did not reveal details of the investigation. Bitcoins Swapped For Dollars. Since the village does not have use for the bitcoins, Larson recommended that the village accept its share of the confiscated bitcoins and convert them into U.S.....
The small town of Darrington, Washington was recently hit by a landslide (last week). A devastating event in itself, but even more so with the news that 18 individuals have died and another 30 are missing as of Sunday, according to CBS. The town is now looking for donations to help the victims of the mudslide, and has turned to bitcoin as one of the options. Funds donated are to be used for transport, housing, and medical expenses. You can see the "Donate Bitcoins" button on the Town of Darrington's website. "I was born and raised near the slide. I knew many of the victims and I was left....
Finland’s customs officials have revealed plans to sell 1,981 bitcoins that were seized mainly in connection with drug trafficking-related criminal investigations. The majority of the confiscated bitcoins (1,666) are from the Douppikauppa case, the darknet operator who was arrested in 2016. To Sell or to Destroy the Coins According to a report by one Finnish broadcaster, the confiscated bitcoins had an estimated value of $800,000 at the time of the seizure. However, with bitcoin now trading above $38,000, Finnish Customs may well get over $75 million if the coins are sold at current....
Massena, a small town in New York near the Canadian border, has temporarily halted new crypto mining operations in the area. Crypto Mining Suspended For Aesthetic Reasons Due to aesthetic concerns, Massena town officials imposed a 90-day moratorium on new Bitcoin mining activity, according to a report by the Associated Press on Friday. Massena Town […]
Local Government authorities in Victoria, Australia announced today they are looking to sell US$7.1m worth of bitcoins on the open market in the coming months. The 24,500 BTC were confiscated from a Melbourne drug dealer named Richard Pollard, who was sentenced in October 2014, to 11 years' jail after pleading guilty to commercial trafficking. The bitcoins were seized by the state's Asset Confiscation Operations (ACO) in late-2013 but the agency had to wait until the man's case had been heard in the court system. An ACO spokesperson confirmed it has taken possessions of the 24,500 BTC and....