US Government Not Passing Bitcoin Regulations

According to White House official, there's a long way to go before the U.S. government starts regulating bitcoin
16 February 2018   919

During an interview, Rob Joyce, special assistant to the president and White House cybersecurity coordinator told that the government is concerned about cryptocurrencies but it is still a long way from developing an official regulatory framework.

I think we’re still absolutely studying and understanding what the good ideas and bad ideas in that space are,” he said of cryptocurrency regulation. “So, I don’t think it’s close.

Rob Joyce

Special President's assistant and White House cybersecurity coordinator

According to him, the White House is concerned about the ability of criminals to use cryptocurrency to violate anti-money laundering policies at traditional financial institutions. Bitcoin is a decentralized and digital, unlike fiat currencies such as the dollar it’s not backed by a central authority.

Due to the fact that transactions are anonymous, the coin has been accused of making it easier for those engaged in illicit activities to hide their money. Joyce also stated that the government hasn’t figured out instantiation of bitcoin and other cryptocurrencies yet.

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   82

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.