Key Disclosure Laws Can Be Used To Confiscate Bitcoin Assets

http://www.forbes.com/sites/jonmatonis/2012/09/12/key-disclosure-laws-can-be-used-to-confiscate-bitcoin-assets/ Jail time for refusing to comply with mandatory key disclosure hasn't occurred in the United States yet. But, it's already happening in jurisdictions such as the UK, where a 33-year-old man was incarcerated for refusing to turn over his decryption keys and a youth was jailed for not disclosing a 50-character encryption password to authorities. Similarly harsh, key disclosure laws also exist in Australia and South Africa which compel individuals to surrender cryptographic keys to law enforcement without regard for the usual common law protection against self-incrimination. Key disclosure laws may become the most important government tool in asset seizures and the war on money laundering. When charged with a criminal offense, that refers to the ability of the gover...

Full article: http://themonetaryfuture.blogspot.com/2012/09/key-disclos...

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http://www.forbes.com/sites/jonmatonis/2012/09/12/key-disclosure-laws-can-be-used-to-confiscate-bitcoin-assets/ Jail time ...

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