$250 Million worth of Crypto Sized by the British Police

almost 3 years ago

The U.K. government has made it a great concern towards money laundering in the country and they claim the money launders use bitcoin as a means to launder money. Just last month in June the Met seized $158 million worth of crypto.

This just smells like the popular “Silk Road” situation. An illegal marketplace (dark web) where people buy and sell illegal products like drugs and using bitcoin as a means of payment because of its anonymity. This happened in 2013 and the U.S government seized about $1 billion.

Well this is the only aspect that is a little bit worrying, while the decentralized nature of bitcoin brings about freedom from centralized organization, it’s disappointing that criminals use it as a means to carry out their criminal acts. But before bitcoin and cryptocurrency, criminals have been using other means to launder money. So of course this is a disadvantage but criminality is inevitable. Humans are usually always going to go above the law no matter what rules is been set.

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1 comments

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almost 3 years ago

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