Like many other governments, the US government often confiscates a significant portion of Bitcoin (BTC) And other altcoins under investigation and burst. These confiscated BTC batches, valued in millions, are auctioned annually. Most of the BTC and other altcoins auctioned in these auctions are sold well below market prices, providing a great opportunity for buyers to make immediate profits.
After the proceedings, including crypto assets, are completed, US Marshal Services is responsible for taking over the digital assets and auctioning the seized cryptocurrencies. U.S. Marshal Services has auctioned a total of 185,000, according to a report published on CNBC. Bitcoin To date it is estimated to be well over $ 8 billion.
US federal agencies seized $ 700,000 worth of cryptocurrencies in 2019, followed by bankruptcy of $ 137 million in 2020, and in 2021 US government agencies confiscated more than $ 1 billion. Coupman, who worked with government agencies in the infamous Silk Road case, said:
“In fiscal year 2019, there was about $ 700,000 worth of cryptocurrency seizures. In 2020, it was up to $ 137 million. And so far, it reached $ 1.2 billion in 2021. I am. “
Another officer said,
“The fact that Marshall Services is getting professionals to help them is a good sign that this is staying here.”
How can crypto regulations change crypto attacks?
Today, governments around the world are auctioning confiscated Bitcoin and altcoin worth billions of dollars below market prices. But once the regulation comes into force, many governments may not actually sell it off.Taken El salvador For example, a small nation-state in Central America turned Bitcoin into fiat currency in September, and the country has been buying BTC throughout the dip. The Treasury holds over 1,000 BTC as it is added over time from the mining industry and direct purchases.
BTC is currently trading at $ 46,535 and has fallen 2% in the last 24 hours. Top cryptocurrencies have fallen nearly 30% from the top in October and are currently looking for a rebounce from the integration phase.
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