What happens to crypto seized in criminal investigations? - BitcoinEthereumNews.com
cryptoAno ang mangyayari sa crypto na nasamsam sa mga kriminal na pagsisiyasat?06 / 05 / 2022Balita ng Ethereum ng Bitcoin Earlier this year, during during the anual Queen‘s Speech in the United Kingdom, Ipinaalam ni Prince Charles sa Parliament about two bills. One of them — the Economic Crime and Corporate Transparency Bill — would expand the government’s powers to seize and recover crypto assets. Meanwhile, the United States Internal Revenue Service (IRS) kinuha more than $3 billion worth of crypto in 2021. As digital currencies‘ monetary stock grows and enforcers’ scrutiny over the maturing industry tightens, the amount of seized funds will inevitably increase. But where do these funds go, assuming they arent returned to the victims of scams and fraud? Are there auctions, like there are for forfeited property? Or are these coins destined to be stored on some kind of special wallet, which might end up as a perfect investment fund for law enforcement agencies? Cointelegraph tried to get some answers. The dark roots of civil forfeiture For the newcomers in the room, cryptocurrency is money. In that sense, the destiny of seized crypto shouldnt differ much from other confiscated money or property. Civil forfeiture, the forceful taking of assets from individuals or