Bitcoin first mentioned in the US Supreme Court Opinion

On Thursday Bitcoin made its first appearance in an opinion issued by the US Supreme Court
21 June 2018   309

The case, Wisconsin Central Ltd. v. United States, is not connected with bitcoin’s regulatory or legal status. It checked whether employee stock options perform  taxable compensation under the Railroad Retirement Tax Act of 1937. That might  seem like an unlikely location for a  bitcoin discussion to be kept, but, however, as justices noted in both the majority and dissenting opinions, the matter made them to consider a fundamental question that has also taken on a renewed importance in the decade following the publication of the Bitcoin whitepaper: “What is money?”

Finally, the 5-4 majority stated that employees should not be taxed for exercising stock options since the action does not constitute “money remuneration.” Nevertheless, writing in a dissenting opinion, Justice Stephen Breyer reasoned for a “broader understanding of money” and claimed that stock options should be classified as taxable compensation.

Breyer, J.
Breyer, J., dissenting

Breyer’s opinion, which contained a citation to Money: The Unauthorized Biography -  From Coinage to Cryptocurrencies, referred bitcoin as an example of the changing nature of money and supposed that “perhaps one day employees will be paid in Bitcoin or some other cryptocurrency.”

When Thursday noticed the first instance of the word “bitcoin” being embelled in a Supreme Court opinion, it’s unlikely to be the last. Actually, cryptocurrency’s perceived association with drug trafficking and other criminal activities could make a prominent appearance in a case whose petition is presently expected before the Court.

Crypto Billionaire to Lost 5.5k BTC Due to Fraud

Thai scammers convinced 22 yo Finnish crypto billionaire to invest in their 'investment' scheme
13 August 2018   290

The 22-year-old cryptocurrency millionaire lost more than 5,500 bitcoins after taking part in the investment scheme in Thailand. The case attracted public attention because of the possible participation of a Thai actor. This is reported by Bangkok Post.

A group of scammers in June 2017 persuaded Finnish businessman Aarni Otawa Saarimaa to invest in several Thai securities, a casino in Macau and a crypto currency called Dragon Coin.

Scammers claimed that Dragon Coin could be used in Macau casinos. In addition, they brought Saarimaa to this casino to demonstrate the legitimacy of their project. Saarimaa transferred 5 564 BTC to fraudsters.

In January, without receiving any income for his investments, Saarimaa filed a complaint with the Crime Suppression Division's (CSD), along with his local business partner, who believed that this investment scheme was fraudulent.

CSD began to investigate the case and stated that the group made no investment for Saarimaa, instead transferring all the bitcoins to Thai baht and placing these funds on seven bank accounts.

Although it is not clear when exactly the scammers sold the bitcoins, CSD announced that they raised about 800 million baht or about 24 million dollars.

Then followed a months-long investigation, according to which CSD began to suspect that the Thai film actor Jiratkisit "Boom" Jaravijit also took part in the fraudulent scheme - he was arrested last Wednesday.

In addition, the CSD stated that it suspects the actor's brother, Princess Jaravijit, as the "instigator" of this entire scheme. He left Thailand, traveling to South Korea, and then to the United States. According to the Bangkok Post, CSD is currently working with the US to track him down.