Airport Gold Seizure in Amsterdam Points to Bitcoin Utility for Private, Borderless Travel

Airport Gold Seizure in Amsterdam Points to Bitcoin Utility for Private, Borderless Travel

THELOGICALINDIAN - A 27yearold Brazilian man was arrested at Schiphol Airport in Amsterdam Friday for declining to acknowledge 15 kilograms of gold confined to community according to bounded letters After declining to accommodate a acceptable account as to how he acquired the gold the adventurer aerial from Rio de Janeiro to Hong Kong was placed beneath arrest on money bed-making suspicions The account has crypto Twitter animate with babble bringing renewed focus to the allowances cryptocurrencies like bitcoin can accompany to the table area abreast traveling with ample sums of money is acceptable more difficult

Also read: Bitcoin Gold Whale Allegedly Controls Half the BTG Supply

Gold Carrying Traveler Arrested in Amsterdam

The arrest, as reported by Dutch media, addendum the man was taken in by the Royal Military Police “because he had 15 kilos of gold confined in his luggage,” and “couldn’t accord a acceptable account for that.”

The Netherlands Royal Police gave added capacity in a Facebook post advertence that “Customs agents arrested the baggage of the man who came from Rio de Janeiro and was traveling to Hong Kong. He angry out to backpack six gold confined in his duke baggage with a absolute weight of about 15 kilograms … and was arrested by board from the SVLM on suspicion of money laundering.”

The translated column added details: “The man is trapped and the gold, a corpuscle buzz and about 750 US dollars accept been seized. Investigators from SVLM conduct added investigations beneath the administration of the Public Prosecution Service Noord Holland.” SVLM, to be clear, is a collaborative authoritative accomplishment absolute customs, the Netherlands’ Fiscal Information and Investigation Service (FIOD) and Royal Military Police.

Pro-Bitcoin Social Media Reacts

It wasn’t continued afterwards the account hit Twitter that bitcoiners and advocates of bread-and-butter abandon began not alone to buzz Netherlands authorities for the aloofness invasion, but additionally to admonish anybody of what they appearance as the account of borderless agenda money while traveling.

“That’s why you charge crypto to move gold,” one user replied to the news, “Sell gold afore demography off for crypto. Buy gold with crypto in the new country. Problem solved…” Twitter handle @Coinosphere one-upped this abstraction with the comment: “Now aloof skip the gold genitalia and you’ll be up to speed.”

Another user, @rusticbison, wrote: “Gold is big-ticket to move, accessible to abduct at bound crossings (I’ve got the gun, so it’s abundance now). Bitcoin is bargain to move, generally absurd to abduct at bound crossings. Gold is a abiding abundance of value, but it is not portable. It has to abide in a abiding jurisdiction.”

User @LightningSats sarcastically remarked:

Not absent on abounding commenters was the actuality that a man was kidnapped on bald suspicion, generated by accustomed a abundance of value. Bitcoin — back it exists on a broadcast agenda balance — can be agitated as a baby algid accumulator accessory on a keychain, a berry byword on some cardboard tucked into a book, or on a buzz or computer. It can additionally be actual clandestine compared to traveling with the shiny, abundant stuff.

While some feel those captivation amount while casual through community — like the Brazilian man at the Amsterdam airport — should consistently obey the law and acknowledge what they are carrying, others anticipate it’s nobody’s business unless there is accepted suspicion of a crime.

Simply accepting a lot of money should not, in and of itself, allege anyone. Thanks to the acceleration of civil asset damage laws, however, belief of badge burglary ample sums of money from the accessible accept now become the norm, and the recourse appropriate to accost baseborn assets can end up costing a affluence for the extorted. If you’ve got a berry byword stored in your brain wallet however, that affectionate of corruption could be a hell of a lot harder for authorities to cull off.

What are your thoughts on the arrest of this man for accustomed absolute gold? Let us apperceive in the comments area below.

Disclaimer: This commodity is for advisory purposes only. It is not an action or address of an action to buy or sell, or as a recommendation, endorsement, or advocacy of any products, services, or companies. does not accommodate investment, tax, legal, or accounting advice. Neither the aggregation nor the columnist is responsible, anon or indirectly, for any accident or accident acquired or declared to be acquired by or in affiliation with the use of or assurance on any content, appurtenances or casework mentioned in this article.

Images address of Shutterstock, fair use.

Did you apperceive you can buy and advertise BCH abreast application our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The exchange has bags of participants from all about the apple trading BCH appropriate now. And if you charge a bitcoin wallet to deeply abundance your coins, you can download one from us here.