Silk Road Founder to be In Jail For Life

The US Supreme Court rejected a motion to review the life sentencing of Ross Ulbricht, founder of Dark Web market Silk Road
29 June 2018   1657

According to the Twitter-channel Free_Ross, the failure to consider the petition creates a precedent for other cases of legal claims from the 'defenders of the right to privacy in the network'. This is reported by CCN.

On January 23, 2018, one of the main experts on the work of the Supreme Court, Tom Goldstein, called the Ulbricht v. United States case one of the most likely candidates to be included in the hearing.

Currently, Ulbricht, who, under the pseudonym Dread Pirate Roberts, ran the Dark Web market that existed in 2011-2013, is serving a double life imprisonment without the right to early release for a number of crimes, including money laundering and illicit trafficking of drugs.

The verdict was made in May 2015, but, according to many observers, was unexpectedly tough: as the judge then stated, he thereby wanted to send a message to other darknet operators. 

For example, Ulbricht was found guilty of ordering a series of murders that had never been committed. In court, it has not been proven that these crimes took place, but this did not affect the judge's determination.

The lawyers of the founder of Silk Road, referring to the Fourth and Sixth Amendments to the US Constitution, consider all of the above to collect information about his Internet traffic without the necessary warrant or a good reason for detention, concealment of key evidence and violation of the right to a fair trial.

The fact that Ross Ulbricht intends to challenge his verdict in the Supreme Court of the United States, became known in December 2017. Earlier, he refused claims to millions of dollars in the bitcoins arrested by the US authorities.

PBoC to Continue Anti-Crypto Propaganda

The regulator published a warning in its WeChat account called “Protection of the rights and interests of consumers of financial services”
23 March 2020   319

The People's Bank of China has returned to criticism of cryptocurrencies amid a worsening economic situation in the world.

On March 22, the regulator published a large-scale warning in its WeChat account under the heading “Protection of the rights and interests of consumers of financial services”. It describes three ways in which cryptocurrency service providers can mislead consumers.

First of all, the amount of fraud transactions with bots is serious. The average turnover rate of the top three overseas crypto currency exchanges is much higher than that of foreign licensed exchanges. Second, market manipulation exists in these exchanges where forced leveraged trading eventually causes the exchanges to explode. Third, money laundering is a big issue.

 

People's Bank of China

In addition, the Chinese Central Bank calls the opinion that Bitcoin may serve as a protective asset, erroneous. The regulator indicates its high volatility and recommends that citizens not follow the example of other investors and refuse to participate in cryptocurrency trading.