Topic: Government can seize company reserve Bitcoin? (Read 631 times)
Yeah, I seen it as a welcomed development because now companies has started buying bitcoin and also reserved some cryptocurrencies especially bitcoin in particular, and it will enable bitcoin to increase in market and also make it's price to accelerates more than our expectations. I actually understood that while companies are going into cryptocurrency especially bitcoin its because they have notice that bitcoin don't really have much taxe and it's decentralized and government don't actually have power for it's regulations via rising and falling aspect of it. And it can be in wallet for your provided that your private key is intact.
The government has the power over many things under the country according to the law whether you will fight it out as a case or not. But seizing the bitcoin may be a little difficult because until they gain access to the wallet of the company, asides that it may probably be hacked be through the internet if you refuse to tender the wallet security code.
Accessing it literally is impossible because only the company would really have the only access since it is the only one who do possess its keys but if government do decide on legal manner then they might really have the chance or would really put you up into a hard situation but the only thing that i cant think of is anything that do violates in terms of tax then thats one hell of a problem
which can really possibly giving you no choice but if theres nothing wrong then government cant do anything with those reserve.Company does have the rights on how and where they would
convert out their cash.If something or violation had been committed then you would really be put up on a hard situation.
Governments can seize everything they want as long they want including Bitcoin, Gold, money or anything else.
If someone invest in Bitcoin and not holding private keys for that Bitcoin than in fact he does not have that Bitcoin, and everyone in crypto knows saying not your keys is not your bitcoins.
Best option is to invest in BTC and secure it with multisig so that nobody including government can take it away from you.
If someone invest in Bitcoin and not holding private keys for that Bitcoin than in fact he does not have that Bitcoin, and everyone in crypto knows saying not your keys is not your bitcoins.
Best option is to invest in BTC and secure it with multisig so that nobody including government can take it away from you.
the question is whether the government knows the company has bitcoin?
many companies that own bitcoin are not known to the public.
if the government doesn't know then how can the government confiscate bitcoins in the company?
No government will interfere if everything is going in a proper channel and as a company they have the rights to hold anything as company reserve. There are many companies that hold bitcoin and some are public and any investment in bitcoin cannot be a private encounter as it involves movement of fiat currency and everything is accountable. many companies that own bitcoin are not known to the public.
if the government doesn't know then how can the government confiscate bitcoins in the company?
The government has the power over many things under the country according to the law whether you will fight it out as a case or not. But seizing the bitcoin may be a little difficult because until they gain access to the wallet of the company, asides that it may probably be hacked be through the internet if you refuse to tender the wallet security code.
The government can seize anything you give to them! 
Government control the companies in the country what and what they are producing and the one not to produce. Government cannot seize bitcoin because is a decentralized any where in the world. Government have the power to verify the company that hold the bitcoin but they don't have the power to control bitcoin in the world. I don't think government has the power to seize the company reserve bitcoin.
It's impossible to "seize" bitcoin. How will they do that? Waterboard you until you give up your private key? Your private reserve is totally up to the company and investors. It has nothing to do with the government.
Look at my comment above....
This will never happen. The government struggles to evict and keep violent criminals behind bars how do you think they going to deal with this?
The government will be able to seize the reserves of bitcoins from companies if the laws on illegal ownership of cryptocurrencies are adopted!
Also if the government can prove the illegality or fraud of the organization, it will also be able to seize the bitcoins...
It seems to me that the state can do anything it wants, especially if it is a totalitarian state...
Also if the government can prove the illegality or fraud of the organization, it will also be able to seize the bitcoins...
It seems to me that the state can do anything it wants, especially if it is a totalitarian state...
Look at my comment above....
This will never happen. The government struggles to evict and keep violent criminals behind bars how do you think they going to deal with this?
the question is whether the government knows the company has bitcoin?
many companies that own bitcoin are not known to the public.
if the government doesn't know then how can the government confiscate bitcoins in the company?
many companies that own bitcoin are not known to the public.
if the government doesn't know then how can the government confiscate bitcoins in the company?
Yeah, that's the main question is, if they really know the thing about if the company has some bitcoin as their reserve. But if they have some laws that the company should state their overall income and budget, they will have some hard time explaining if the authority finds out about their company reserved. Nevertheless, the laws in each country will depend on how they will react to that thing. As for us, our knowledge is very limited because of the lack of information that we know.
The government will be able to seize the reserves of bitcoins from companies if the laws on illegal ownership of cryptocurrencies are adopted!
Also if the government can prove the illegality or fraud of the organization, it will also be able to seize the bitcoins...
It seems to me that the state can do anything it wants, especially if it is a totalitarian state...
In other words, they have the power to seize our properties even we are in decentralized. As long as the company runs illegally, bitcoin will get to them by the power of search warrant. What I think is that, where did they use the collected bitcoins whenever they seized it in illegal companies? Unlike with drugs, it can be burned. Bitcoin will not be burned unless they converted it into fiat and back it to the bank. Well, it is impossible since there are government officials who are blinded by money. They probably hide it to their pocket and they just make a news release on where the busted bitcoin goes on. Also if the government can prove the illegality or fraud of the organization, it will also be able to seize the bitcoins...
It seems to me that the state can do anything it wants, especially if it is a totalitarian state...
About the recent trend on Bitcoin which some companies started to buy Bitcoins and make it as the company's reserve. Recent was the Square company.
This is good news for fans of bitcoin and cryptocurrencies, companies that have taken a more positive outlook on bitcoin.Is the government can seize or they have the right for those Bitcoins they bought? If ever there will be some serious violations on the low for any companies that owns Bitcoin as company reserve?
Up to this point the government has no right to seize the bitcoins that companies have bought, bitcoin is legally owned and no one can take it out of the hands of companies.the question is whether the government knows the company has bitcoin?
many companies that own bitcoin are not known to the public.
if the government doesn't know then how can the government confiscate bitcoins in the company?
The government will be able to seize the reserves of bitcoins from companies if the laws on illegal ownership of cryptocurrencies are adopted!
Also if the government can prove the illegality or fraud of the organization, it will also be able to seize the bitcoins...
It seems to me that the state can do anything it wants, especially if it is a totalitarian state...
Also if the government can prove the illegality or fraud of the organization, it will also be able to seize the bitcoins...
It seems to me that the state can do anything it wants, especially if it is a totalitarian state...
About the recent trend on Bitcoin which some companies started to buy Bitcoins and make it as the company's reserve. Recent was the Square company.
So my purpose of this thread is to talk about the companies that have Bitcoin as company reserve.
Is the government can seize or they have the right for those Bitcoins they bought? If ever there will be some serious violations on the low for any companies that owns Bitcoin as company reserve?
Here, we can see some of the companies that already owned Bitcoin : Bitcoin Treasuries in Publicly Traded Companies
So my purpose of this thread is to talk about the companies that have Bitcoin as company reserve.
Is the government can seize or they have the right for those Bitcoins they bought? If ever there will be some serious violations on the low for any companies that owns Bitcoin as company reserve?
Here, we can see some of the companies that already owned Bitcoin : Bitcoin Treasuries in Publicly Traded Companies
In my opinion, if you want to be safe, you should store bitcoins secretly so that the government doesn't know that the company is buying bitcoin for company reserves.
if you are in a country that prohibits bitcoin, there is a possibility that the government will confiscate all bitcoins or impose a penalty on the company.
Government can not restrict the wallet from all forms of transaction except restrict the user or owner the access to the wallet. Anonymity may not be the feature to boast on but the decentralization is still retained and all what the user need is the access password or private key anywhere in the world where there is internet. Twitter and under organization will like to function under the law and bitcoin unlike some token has little restriction on use
Seizing Bitcoin by companies is not possible because the government has to prove that bitcoin is harming the economy or that the bitcoins the companies are holding have an unclear origin or from criminal activity.
It depends on each country's specific policy governing bitcoin. Some countries prohibit people from owning, some prohibit use as a means of payment. It is perfectly legal for companies in the US to invest in or own bitcoins because the US allows that to happen.
These companies would not be foolish to put large amounts of their money into an asset they were forbidden to own.
It depends on each country's specific policy governing bitcoin. Some countries prohibit people from owning, some prohibit use as a means of payment. It is perfectly legal for companies in the US to invest in or own bitcoins because the US allows that to happen.
These companies would not be foolish to put large amounts of their money into an asset they were forbidden to own.
If a company has a license for their operations in a nation where bitcoin is accepted legally, they are fine.
Government is only have rights to seize illegal bitcoin that they have proof of money laundering and the nations AML law regulations to be applied. Company when decide to add bitcoin to their reserve pool will not buy bitcoin from darkmarket sources. They will do it legally from pure soures.
I think companies are fine with their bitcoin reserve pools.
Government is only have rights to seize illegal bitcoin that they have proof of money laundering and the nations AML law regulations to be applied. Company when decide to add bitcoin to their reserve pool will not buy bitcoin from darkmarket sources. They will do it legally from pure soures.
I think companies are fine with their bitcoin reserve pools.
There have been many instances of the government seize Bitcoin from companies, because the company was proven to have
carried out illegal activities.
actually this is not the case here,Bitcoin to be decentralized and volatile can be taken away from us by government?this is what OP is pointing here not because they make crimes or whatever.carried out illegal activities.
So the government seize Bitcoin not because the company was using it as a reserve fund, but because
the company was breaking the rules.
If they are breaking the rules then they can at least close the company and take their insurance or other Fiat based money but not Bitcointhe company was breaking the rules.
as this is a safe vault for us investors and
if this can be taken that easy so there is a problem here.
Because as long as the company complies with the regulations, it is very safe for the company
to make Bitcoin as reserve funds.
you dont really understand the point,it is either they obey or not the thing is the privacy we have in crypto specially Bitcoin. to make Bitcoin as reserve funds.
Even countries that are not sympathetic to bitcoin like China or Vietnam, they see bitcoin as an asset of the people and people are free to own it.
So I assume that if a company buys bitcoins as a reserve they have total discretion over their bitcoins, the government has no right to seize it.
Unless if the intent of such reserve is for illegal, but if the intent is for in the preparation of the coming digital adaptation that seems no problem and there is no reason for the authorities will seize for it.So I assume that if a company buys bitcoins as a reserve they have total discretion over their bitcoins, the government has no right to seize it.
From a legal standpoint, it was the right of every individual and even for the company to hold anything they want, in fact, having Bitcoin is not illegal unless if it banned from their country.
In the event that property is illegal or used for illegal purposes, any currency can be seized.
About the recent trend on Bitcoin which some companies started to buy Bitcoins and make it as the company's reserve. Recent was the Square company.
This is good news for fans of bitcoin and cryptocurrencies, companies that have taken a more positive outlook on bitcoin.Is the government can seize or they have the right for those Bitcoins they bought? If ever there will be some serious violations on the low for any companies that owns Bitcoin as company reserve?
Up to this point the government has no right to seize the bitcoins that companies have bought, bitcoin is legally owned and no one can take it out of the hands of companies.
There have been many instances of the government seize Bitcoin from companies, because the company was proven to have
carried out illegal activities. So the government seize Bitcoin not because the company was using it as a reserve fund, but because
the company was breaking the rules. Because as long as the company complies with the regulations, it is very safe for the company
to make Bitcoin as reserve funds.
carried out illegal activities. So the government seize Bitcoin not because the company was using it as a reserve fund, but because
the company was breaking the rules. Because as long as the company complies with the regulations, it is very safe for the company
to make Bitcoin as reserve funds.
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