US Authorities to Sell $25m Worth Seized BTCs

US Marshal will sell 14 bitcoin lots: 2 lots of 500 BTC, 11 lots of 100 BTC and one lot at 70 BTC.
06 March 2018   183

The US Marshals intend to auction bitcoins worth about $ 25 million, CoinDesk reports.

Sale of 2 170 BTC will take place on March 19. Interested persons must make a deposit of $ 200,000 and be registered in accordance with all requirements until March 14.

At auction will be exhibited 14 individual lots: 2 lots of 500 BTC, 11 lots of 100 BTC and one lot at 70 BTC.

According to the message of the department, the crypto currency was confiscated in the course of investigation of various criminal, civil and administrative cases, beginning with federal lawsuits and ending with cases related to drug trafficking.

The origin of bitcoins can be found on a special page. According to the information presented there, among other things, the bitcoins associated with the case of Shaun Bridges, a former Secret Service agent, who was tempted and stole the crypto currency in the investigation of the illegal trading site Silk Road, are offered.

It is worth noting that this is not the first such auction held by the Federal Executive Service of the United States. In February, the agency sold more than 3,600 BTC for $ 30 million. One of the winners of the auction was the company Riot Blockchain, which was subsequently accused by investors of making dubious transactions and spreading false statements.

Cryptocurrency to be Regulated in France

French Ministry of the Economy and Finances creates working group to regulate cryptocurrency
22 March 2018   120

Bruno Le Maire, the French Minister of the Economy, announced the government initiative to constitute the instructions and regulations towards cryptocurrency. The group is also aimed to decrease the influence of Bitcoin and altcoins to the formal system of economy with the help of required concept. These measures would help French government to prevent tax avoidance and some other criminal activities (such as money laundering).

In an op-ed that was published in French media this week the Minister of the Economy Bruno Le Maire made a promise not to miss the blockchain revolution. He refined the reasons of the French authorities`decision to regulate the technology. According to his point of view, it is impossible for any consumer or entrepreneur to carry out a transaction, invest, develop in business being in a regulatory vacuum. The Minister also put this position on the top among the rest questions to be discussed at G20 Summit in Buenos Aires. Bruno Le Maire is sure that the role of France is to be a driving force in “building the world of tomorrow”.

The Minister is going to present his case at the G20 Summit in 2018 in Argentina. He hopes that the framework can help in decreasing illegal activity in cryptocurrencies. Le Maire also explained that the sphere of digital funds is extremely attractive for criminals.

The leader of the working group is Deputy Governor of the Central Bank of France Jean-Pierre Landau. The French Central Bank supports the Government and hopes there would be no negative impact and consequences for the traditional economy system.

The key object of cryptocurrency regulation is to limit various negative factors in the financial sphere caused by digital money, such as the price volatility. Le Maire claims that at the same time the regulation of the cryptocurrency can support the development of the technology and can even lead to the economic growth. As blockchain can destroy not only traditional daily practices in banking and financial markets, but also patents and certified acts, the French Minister of Economy urges that the working group should foresee all these changes and become “actors of this revolution”, instead of simple viewers.