THELOGICALINDIAN - A cardinal by the South Korean Supreme cloister about the amount of cryptocurrency may be the backdoor to unraveling the authoritative boondoggle over custody
Porn Provider has Bitcoin Seized
The case apropos a pornographer arrested on accuse of actionable the Protection of Children and Juveniles From Sexual Abuse Law in May 2024. The accuse which go aback as far as 2024 affirmation that the man articular alone as Ahn had broadcast 235,000 atrocious pictures online and fabricated 1.9 billion won from admirers of the site. During his arrest, 216 Bitcoin stored in a agenda wallet was seized which the case declared as assets that were becoming illegally.
Initially, a lower cloister disqualified adjoin the access advertence “bitcoins alone existed electronically and had no concrete form.” according to Yahoo finance. The prosecutor appealed the case to a college cloister which “ruled in the prosecution’s favor, adage the cyber assets could be apparent as accumulation becoming from the barter in goods.”
The Supreme Court upheld the cardinal and added that the accommodation “will acquiesce any cyber assets acquired from actionable action such as gambling, biologic deals, chicanery and corruption to be confiscated.” The Supreme courts accommodation may be accessible in a brace of means but it may additionally be the angled point for analytic authoritative questions government agencies all over the apple accept been disturbing with.
Case may Open Backdoor to Custody
Cryptocurrency is “an asset with bread-and-butter value”, there is no against that. From affluence absolute acreage agents who focus on brokering deals in crypto to strippers in Las Vegas with QR codes tattooed on their buttocks enabling them to booty tips in Bitcoin; those of us who alive in the accustomed apple apperceive that cryptocurrency equals wealth. As one commentator wrote on Yahoo, “Next on the court’s agenda: Does a triangle accept 3 sides?”
Also accessible admitting is the action for the ruling. This was a bent case that resulted in the access of 191 Bitcoins (where did the added 25 disappear to?) which at today’s price are according to over $1.4 million. Money that now rests in the South Korean government’s coffers. Now that the antecedent has been set it should be no abruptness that cybercriminals in abounding forms are approved out with beginning vigor.
What is beneath accessible and possibly unintended in this accommodation is if this official acknowledgment that cryptocurrency is an “asset with bread-and-butter value” may be acclimated to achieve the agitation that the Korean Supervisory Service, the US Securities Exchange Commision, the UK’s Financial Conduct Authority and authoritative bodies all over the apple accept been accepting over the attributes of agenda coins; i.e. what is it?
