Join me @ IBOtoolbox for free.
David Ogden
Member Since: 5/25/2012
  
performance / stats
Country: United Kingdom
Likes Received: 305
Featured Member: 3 times
Associates: 282
Wall Posts: 525
Comments Made: 415
Press Releases: 300
Videos: 131
Phone: +357 97727987
Skype:     seadogs11
profile visitor stats
TODAY: 208
THIS MONTH: 2368
TOTAL: 142366
are we ibo associates?
member advertising
active associates
Dominic Goss    
Last logged on: 7/20/2019


Bob & Shirley Rushing    
Last logged on: 7/20/2019


Whitney Jacqueline      
Last logged on: 7/20/2019


Ezworksystem Opportunities    
Last logged on: 7/20/2019


Bill Bateman     
Last logged on: 7/20/2019


QUEENHAJAR AKANQI     
Last logged on: 7/20/2019


Phil Schaefer    
Last logged on: 7/20/2019


Vernon Wallis    
Last logged on: 7/20/2019


Terry Russell    
Last logged on: 7/20/2019


Brian Stefan    
Last logged on: 7/20/2019


Don Merrill    
Last logged on: 7/20/2019


Ro Mitchell    
Last logged on: 7/20/2019


Csaba Juhasz    
Last logged on: 7/20/2019


Antonio Carlos    
Last logged on: 7/20/2019


Bosko Hajsek    
Last logged on: 7/20/2019


other ibo platforms
David Ogden   My Press Releases

Seized Bitcoins soon to be disposed by the oldest law enforcement agency in the U.S

Published on 3/9/2019
For additional information  Click Here

Seized Bitcoins soon to be disposed by the oldest law enforcement agency in the U.S

The oldest law enforcement agency in the United States, U.S Marshals Service, is calling on cryptocurrency firms to help in disposing seized Bitcoins.

The law enforcement agency is looking for cryptocurrency firms that have a secure way to store the seized Bitcoins and also firms that are capable of facilitating a refund of the Bitcoins or other cryptocurrencies to their owners.

This will lead to the first U.S Marshals’ Bitcoin and cryptocurrency disposal event this year. Last year, the law enforcement agency auctioned Bitcoin worth more than 80 million U.S dollars. However, in its current request for help in disposing and storing seized Bitcoins, the law enforcement agency did not quote the amount it is seeking to be disposed.

In an announcement posted on FedBizOpps, titled ‘Cryptocurrency Management and Disposal Services’ the U.S Marshals Service which falls under the United States Department of Justice, issued a Request for Information (RFI) where it is urging cryptocurrency companies to furnish the agency with how best to store and maybe dispose seized Bitcoins and other cryptocurrencies.

The announcement noted that:

Once all submissions have been received and reviewed, the Government anticipates posting a Request for Proposal (RFP).

Those who may be interested in working with the U.S Marshals Service must be able to convert the seized Bitcoin to fiat which can be conducted through an auction using sealed bids. The RFI expires on March 19 this year.

During last year’s auction of seized Bitcoins, the law enforcement agency required bidders to deposit $200K which would be returned to non-winning bidders. For registration purposes, the bidders had to submit a manually signed copy of the registration form, a government-issued ID, and a copy of the EFT receipt.

In the past, sealed-bid auctions of seized Bitcoins manifested a chance for Bitcoin whales to pile up their Bitcoin reserves. For example, in 2014, during the auction of the Silk Road proceeds, Tim Draper, a venture capitalist, increased his Bitcoin reserves by over 30,000 Bitcoins.

After the completion of the RFI phase, do you think Bitcoin whales will use the seized Bitcoins to increase their reserves?
 

 

Member Note: To comment on this PR, simply click reply on the owners main post below.
-  Copyright 2016 IBOsocial  -            Part of the IBOtoolbox family of sites.