what if the persons wallet was encrypted and use did not give them the password?
Can they not only seize if they confiscate the pc/hardware? what if the back up was placed on to the cloud and a transaction was made on another pc?
Topic: Can the U.S. government sell seized bitcoins? - page 3. (Read 1911 times)
I wrote an email to the DOJ explaining that bitcoin is about to crash to ZERO!! The email showed them how to sell me the coins for $100, so that they not left holding the bag.
Maybe they'll noob out, and panic sell their coins.
Maybe they'll noob out, and panic sell their coins.
They're waiting for the bitcoin worth $10,000. Profits!
They will sell them using their regular auction process. Should be a very interesting auction when it does finally happen.
The process is called asset forfeiture. Yes the distict attorneys office will need to make a case that the coins were part of the proceedes of a criminal enterprise. If/when successful the assets (Bitcoins, gold, yatchs, real estate, priceless works of art, it doesn't really matter) becomes the property of the US treasury. The DOJ routinely auctions of billions and billions of dollars of forfeited property each year.
FBI often gets named but they have nothing to do with the process. The DOJ handles assets forfeitures in the US and any assets become the property of the US treasury (and indirectly the people of the United States collectively) until sold.
If you are talking about the Silk Road specifically understand the timeline is usually measured in years. It is an insanely slow process. Often property is destroyed (i.e vehicles rusted out, won't start, etc) because the process takes so insanely long. Obviously Bitcoins aren't affected by time but if you are expecting a sale tomorrow you will be waiting a long time.
FBI often gets named but they have nothing to do with the process. The DOJ handles assets forfeitures in the US and any assets become the property of the US treasury (and indirectly the people of the United States collectively) until sold.
If you are talking about the Silk Road specifically understand the timeline is usually measured in years. It is an insanely slow process. Often property is destroyed (i.e vehicles rusted out, won't start, etc) because the process takes so insanely long. Obviously Bitcoins aren't affected by time but if you are expecting a sale tomorrow you will be waiting a long time.
Most probably they would be auctioned off.
If they did sell,
How will they sell? By appointing meeting of all exchanges
If they did sell,
How will they sell? By appointing meeting of all exchanges
Now that bitcoin is called a currency by the government, can the sell btc's seized from raids?
Bitcoin is not called a currency by the government
And yes, seized things are regulary auctioned
After the trial I assume they can. They can sell a drug dealer car, right?
Now that bitcoin is called a currency by the government, can the sell btc's seized from raids?
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