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As bitcoin is likely only quasi-legal in the eyes of the government, I doubt they'd be selling it off before they take a stance on it one way or another.
by JohnTHaller 13y ago
As bitcoin is likely only quasi-legal in the eyes of the government, I doubt they'd be selling it off before they take a stance on it one way or another.
- AaronM 13y agoIf they did sell them off, would give the currency some legitimacy as being legal?
- loceng 13y agoProbable, though not any more so than just anyone using it. A judge - appointed by whomever with whatever set agenda - could easily just say that those Bitcoins sold was illegal if it came to that.
- lojack 13y agoI haven't seen any evidence to suggest any quasi-legality of bitcoins themselves. The legality of bitcoin exchanges and bitcoins' use as a currency, however, could be up for debate. Its reasonable that they'd just treat them as an asset and auction them off without needing to take a stance on any legal issues.
- gojomo 13y agoOne of the government's complaints against Ulbricht states: "Bitcoins are not illegal in and of themselves and have known legitimate uses." (See 21(b)(v) of http://www1.icsi.berkeley.edu/~nweaver/UlbrichtCriminalComplaint.pdf http://www1.icsi.berkeley.edu/~nweaver/UlbrichtCriminalCompl...) Of course that's not a binding declaration, but it indicates some openness on the mattter. The agency holding it would surely like the $millions (or someday appreciated $billions) in law-enforcement toys it could buy, if liquidated. They routinely sell/spend other confiscations.