Vanuatu offers citizenship for 44 BTC

A Pacific island nation, the Republic of Vanuatu, is now accepting Bitcoins for citizenship and passports
10 October

A Pacific island nation, the Republic of Vanuatu, officially offers the opportunity to become a citizen of the country (during its citizenship-by-investment program) in less than 44 Bitcoins ($200,000).

Vanuatu Information Centre
an image from Vanuatu Information Centre

According to the press release,the Vanuatu Information Center is authorized by the government to process applications.

Thus, through the citizenship-by-investment program, approved applicants paying the $280,000 fee receive citizenship as well as Vanuatu passports for themselves and up to three members of their immediate family.

Geoffrey Bond, Member of Parliament Hon. Andrew Solomon Napuat, confirmed that the Vanuatu government supports the move to receive payments in Bitcoin. The man detailed that “all Bitcoin transactions will be run through the partner’s Australian Exchange and meet with the normal compliance requirements imposed by the Australian Financial Regulator.”

Yet, Vanuatu is not the only country to offer a citizenship-by-investment service. Its competitors in this field include Turkey, Malta, Cyprus, Dominica, St. Lucia, Antigua and Barbuda, St. Kitts and Nevis, and Grenada.

US Government to sell seized BTC and BCH

Government attorneys from Utah to sell the 513.1490393 BTC and equal amount of BCH, that were seized during anti-drug operation in 2016
15 December

The U.S. authorities is planning to sell off confiscated bitcoins seized during an drug case that are now worth almost $10 million. This is reported by the CoinDesk. 

Government attorneys in Utah are now working to sell the 513.1490393 bitcoins (BTC), worth approximately $8.7 million at current prices. An almost equal number of bitcoin cash (BCH) will also be sold (512.9274588), with value near to $949,000.

The BTC and BCH have been transferred to a government wallet. Due to the volatile market for cryptocurrencies, the BTC and BCH risk losing value during the pendency of the forfeiture proceedings ... For these reasons, the United States seeks an interlocutory sale.
 

US Government court order

 

Cryptocurrencies will be sold and converted into US dollars using one or more commercial cryptocurrency exchanges in increments of 50 coins or less. Proceeds will be deposited into the Treasury Forfeiture Fund Suspense account.

Dale Kimball, U.S. district judge, approved the sale of confiscated cryptocurrencies on Dec. 12 after the prosecutors in the case filed a request for the sale on the same day.

The drug crime case involves a Aaron Shamo, who was charged with running a multimillion-dollar opioid drug ring out of a Salt Lake City suburb in Nov. 2016. It was one of the largest busts of this kind in the country.