Published
5 years ago on
August 19, 2018
“US assistant district attorney, Abraham Simmons, said that judges are afforded a broad spectrum of discretion when it comes to enforcing bail payments. They can in many ways be tailored to the assets that the defendant has access to, such things as real estate or cars could also be enforced as collateral against bail payments. Simmons also stated that he doesn’t believe it is the first time a judge may have ordered cryptocurrency as bail payment.â€See the full article for yourself, here. This is quite important, because in some respects, many would assume that their crypto portfolio is safe from law enforcement, especially in the instance they end up going to prison. What this proves is that even cryptocurrency holdings aren’t above the law, if you have crypto and the law enforcement find a way to get hold of it, they will. Bail payments are one thing, but as I said, this could shake legal foundations and perhaps inspire other policy makers to look into how cryptocurrencies could stand for other similar payments such as the settlement of fines and debts worldwide.
