02 Apr '15, 8am

US Presidential Order Allows the State to Confiscate Crypto Holdings ‘Without Prior Notice’ #Bitcoin

US Presidential Order Allows the State to Confiscate Crypto Holdings ‘Without Prior Notice’ #Bitcoin

An executive order signed by President Barack Obama has enabled US authorities to become the first to confiscate cryptocurrency holdings without warning. The document , ‘Blocking the Property of Certain Persons Engaging in Significant Malicious Cyber-Enabled Activities,’ which surfaced Wednesday, states that the measures are needed to counteract “an unusual and extraordinary threat to the national security” posed by “cyber-enabled activities originating from, or directed by persons located, in whole or in substantial part, outside the United States.” While the impetus for the order’s hasty enactment is not elaborated upon, it is in the interests of “national security” that authorities in the US are now seemingly able to immediately seize and hold an individual’s cryptocurrency wealth without giving prior notice. The declaration by Obama states: “I find that because of the ...

Full article: http://cointelegraph.com/news/113850/us-presidential-orde...

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