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From our latest issue. The Silk Road hidden website and the Bitcoins that were forfeited yesterday had been seized in connection with the civil forfeiture action previously filed in Manhattan federal court on September 30, , seeking the forfeiture of all assets of Silk Road, including its website and all of its Bitcoins because those assets allegedly were used to facilitate money laundering and constitute property involved in money laundering.
Paul Oetken. Manhattan U. These Bitcoins were forfeited not because they are Bitcoins, but because they were, as the court found, the proceeds of crimes. The Silk Road hidden website was designed to enable its users to buy and sell illegal drugs and other unlawful goods and services anonymously and beyond the reach of law enforcement. Ulbricht has filed a claim in the civil forfeiture action, asserting that he is the owner of the Bitcoins found on his computer hardware, and contesting the forfeiture of those Bitcoins.
And the natural choice for where that wealth is ultimately transferred to is their progeny. For many of them, virtual currencies reflect the independence and the de-coupling from traditional hierarchies think the gig economy for which they are most known.
On the date of publication, Matthew McCall did not have either directly or indirectly any positions in the securities mentioned in this article. On the date of publication, the InvestorPlace Research Staff member primarily responsible for this article held a long position in bitcoin.
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