Connect with us

FEATURED

Busted: Huge BTC confiscated by Irish Authorities From Notorious Drug Dealer

Published

on

An alleged notorious drug dealer who uses Bitcoin to make his transaction has now seen his bitcoin worth €52 million seized by the authorities of the Irish government.  A report which dominated news headlines on the 19th of Feb 2020, claimed that the cryptocurrency assets were seized by the Criminal Asset Bureau (CAB) after the case received a verdict from the high court which clearly stated that the assets were generated from his criminal activities.

The court accepted evidence from the prosecution team against the culprit, Clifton Collins, from Crumlin in Dublin’s south inner city proving that he was involved in the sale and distribution of drugs.

The judge who presided over the case, Mr Alex Owens, ruled that the Bitcoins should be forfeited under the proceeds of crime legislation

During and after the verdict, Collins age (49) did not contend with the application filed by CAB. The bureau’s initial investigation into his assets emanated from a garda investigation, which started in Feb. 2017 when Collins was stopped for random check while driving his 4×4 vehicle. During the search, a large quantity of cannabis was found in his vehicle which led to the need for further investigation that resulted in the discovery of a large number of suspected cannabis plants at the Famaught, Corr na Móna.

After the findings, Collins was then charged with a number of offences under the misuse of Drugs Act and duly arraigned before Bray District Court. He is believed to have heavily invested the proceeds from his drugs deals on Bitcoin at an early stage as a means to probably evade scrutiny from authorities while his cryptocurrency portfolio continues to rise over the years.

Following the seizure of Collins assets, there was a huge jump in the value of assets that has been confiscated by CAB in 2019 amounting to a whooping record of €62m. His case was among a series of applications brought by CAB before Justice Owens and it was unsurprising to see him fail to challenge the final verdict.

Advertisement
Comments

FEATURED

Washington DC Lawyers Can Now accept Payments in cryptocurrency

Published

on


Lawyers within Washington, D.C jurisdiction can now accept cryptocurrency as a means of payment for their legal services according to Bloomberg’s report. Cryptocurrency can now be used as to make payments for legal services as long as there is fair agreement and it is permitted only if the lawyer knows how to store the payment safely; the district of Columbia Bar said this in an ethics opinion.
Attorneys “cannot hold back the change even if they would like to, and cryptocurrency is increasingly accepted as a payment method by vendors and service providers, including lawyers”, the organization said.
The committee acknowledged the volatile nature of cryptocurrencies and included that fairness to the client is important while making fee arrangements. Cryptocurrencies are digital currencies; the transactions are recorded on a public ledger- Blockchain and they are traded on exchanges just like stock exchanges.
However, the acceptance of payments in cryptocurrency comes with certain terms according to the opinion. First is the clear agreement on how the client is to be billed; and decision on who will be cover the gas fee for the crypto transfer, whether the lawyer or the client. The client can seek external counsel on the deal as well.
The lawyer’s fairness to the client is also important as the opinion noted that agreement fairness should be decided at the time of signing. With this, no ethical breach will occur if future events beyond the lawyer’s control occurs and makes the fee unreasonable. Lawyers must be competent and familiar with Blockchain technology, bitcoin and other cryptocurrencies so as to be able to ensure and safeguard the payments according to the opinion; the Bar “requires lawyers to understand and safeguard against the many ways cryptocurrency can be stolen or lost.”
It is no longer news that digital currency is the future of money. The phase has been set in motion and new development is reported daily. Bars in other jurisdictions like New York City, Nebraska, North Carolina have approved cryptocurrency as payment previously.

Continue Reading

FEATURED

Washington, DC Lawyers Can now accept Payments in Cryptocurrency

Published

on


Lawyers within Washington, D.C jurisdiction can now accept cryptocurrency as a means of payment for their legal services according to Bloomberg’s report. Cryptocurrency can now be used as to make payments for legal services as long as there is fair agreement and it is permitted only if the lawyer knows how to store the payment safely; the district of Columbia Bar said this in an ethics opinion.


Attorneys “cannot hold back the change even if they would like to, and cryptocurrency is increasingly accepted as a payment method by vendors and service providers, including lawyers”, the organization said.


The committee acknowledged the volatile nature of cryptocurrencies and included that fairness to the client is important while making fee arrangements. Cryptocurrencies are digital currencies; the transactions are recorded on a public ledger- Blockchain and they are traded on exchanges just like stock exchanges.


However, the acceptance of payments in cryptocurrency comes with certain terms according to the opinion. First is the clear agreement on how the client is to be billed; and decision on who will be cover the gas fee for the crypto transfer, whether the lawyer or the client. The client can seek external counsel on the deal as well.


The lawyer’s fairness to the client is also important as the opinion noted that agreement fairness should be decided at the time of signing. With this, no ethical breach will occur if future events beyond the lawyer’s control occurs and makes the fee unreasonable. Lawyers must be competent and familiar with Blockchain technology, bitcoin and other cryptocurrencies so as to be able to ensure and safeguard the payments according to the opinion; the Bar “requires lawyers to understand and safeguard against the many ways cryptocurrency can be stolen or lost.”


It is no longer news that digital currency is the future of money. The phase has been set in motion and new development is reported daily. Bars in other jurisdictions like New York City, Nebraska, North Carolina have approved cryptocurrency as payment previously.

Continue Reading

FEATURED

Hacker attempts to interrupt the Blockchain voting system in Russia

Published

on


A hacker has tried to interrupt the blockchain voting system that is currently used to determine constitutional changes in the country. Head of the Moscow’s government IT technologies department, Artem Kostyrko has said an observer node on the blockchain has been targeted, but the system still functioned perfectly despite this according to the the Russian News agency, TASS’s report. It was not lucid from the report what the hacker tried to achieve from the attack.

Kostyrko also said increased security mode has been introduced and that there was no interruption in voting; all votes are in the guaranteed delivery service as they will be recorded on the blockchain. The website was said to have gone down by the Central Electoral commission during the first day of the electronic voting due to overload on the system. Kostyrko said the observation node is currently offline while IT experts make sure it is safe to be switched on again.


The head of Russia’s observers’ movement, Golos Grigory Melkoyants said observers could not connect to the blockchain and that the issue might necessarily not be about the observer node. He suggested that the system is distributed between polling districts but it was not accepted according to Melkoyants.


According to the Russian news agency report, constitutional changes will be determined by Russians. Most importantly, whether the country’s president, Vladmir Putin will stay in power for more than the limit of two consecutive six-year terms. The voting exercise began last week Tuesday and ended on June 30th. Roughly one million applicants were registered to use the blockchain system in Moscow.


It is great news a powerful state like Russia adopted the blockchain technology to run an election. Hackers trying to disrupt it places a question mark on the famous myth that blockchain transactions cannot be hacked/traced.

Continue Reading

FEATURED

BTSE Launches the BTSE debit MasterCard

Published

on

BTSE Launches BTSE Debit Card
BTSE has started the launch of its debit card since 16th June, 2020 in various countries and online communities. The global launch event is set for 23rd June, 2020.

The card comes with a lot of features so interesting that it was tagged “skip the Bank with the BTSE card” on their official blog post. The features were listed and it will be imperative to consider some of them.


Users can fund the BTSE card without a bank account. Unlike bank debit cards, where users has to deposit money into their bank accounts in order to spend and have to own an account with local banks to get their cards, with the BTSE debit MasterCard, users can fund without necessarily having a bank account. It can be funded with either cryptocurrency or fiat.

The BTSE card can be used for payments anywhere in the world where MasterCard is accepted. There are no limitations to it by the virtue of location or national borders as long as there is ATM where it can be used. The card could be used to pay over 53 million merchants worldwide according to the release by BTSE.


Users can spend and withdraw as much as $5,000 from ATMs in a day with the BTSE card. It gives more room for spending unlike the local banks debit cards that have strict limits. Up to $250,000 can be spent in a month with the BTSE card. Users can withdraw with the card at over one million ATMs worldwide.


Users also enjoy cashbacks as well whenever they make purchases; they get bitcoins. There is zero percent (0%) fees on all transactions as well with the BTSE card.
With the fast growth of crypto companies like BTSE, it could be said that the revolution in the financial space is imminent because digital assets will soon take over the local currencies. The emergence of this card that can store crypto and fiat will speed up crypto adoption. We even have bitcoin ATMs already; beyond reasonable doubt, crypto is the future of money.
https://www.btse.com/en/debit-card/

Continue Reading

Watch

Find Us

Address: 7 Kafi Street, Beside City Mall, Shoprite, Alausa, Ikeja, Lagos.

Hours: Monday—Friday: 9:00am–5:00pm

Contact: +234 817 866 6900

Trending

Copyright © 2020 CryptoTVPlus. Powered by Ma Media