The emergence of private money entails many risks. Such risks are difficult for the state to control. More often we hear about different disorders that are happening around crypto technologies. If you are willing to increase your money amount, test your luck at casino en ligne Canada and try to get your first jackpot!
To keep crypto economics stable around the world, different countries have prepared the package of their laws for regulation. As under crypto can be anything else. Some manage to trade drugs and weapons. Created different websites. The most famous situation happened in the USA. When a physician managed to sell drugs in an exchange he accepted crypto currency. The website was called the Silk Road. The site had almost a million visitors. In total, drug trafficking through this site exceeded $200 million, and all transactions for their payment took place in bitcoins. The site provided customers with technical support at an unprecedented level. The services of hired killers were also popular on the site.
In October 2013, the FBI closed the site and seized 144,000 bitcoins, which at that time amounted to about $100 million. to life imprisonment. In total, the turnover of the site for the entire period of operation (from 2011 to 2013) amounted to 174,000 bitcoins.
The governments of Germany and Austria funded a joint research project BitCrime. Their main goal is to study the use of digital currencies in the activities of organized crime groups. The main aim is to “develop effective, applicable and compatible solutions for Europe and other countries.”
The German part of the initiative is funded by the Federal Ministry of Education and Research. It has a budget of 1.8 million euros. The study also involves the University of Münster, the Federal Criminal Police Office, and many other federal agencies. They are responsible for crime control and financial oversight. The Austrian part of the project, with a budget of 635,000 euros, is supported by the Federal Ministry of Transport, Innovation and Technology, the Austrian Institute of Science and Technology, and the Ministries of Finance and the Interior.
Also read: Top 5 Cryptocurrency Converters
An interesting public relations initiative was undertaken by influential members of the bitcoin and blockchain community. The Blockchain Alliance is a non-profit organization created by the Chamber of Digital Commerce and the Coin Center. Jason Weinstein, a partner at the law firm Steptoe & Johnson LLP, has been chosen to lead the Blockchain Alliance. In his keynote, Weinstein explained that to succeed, all need to come together and change the misconception about bitcoin as a ‘criminal currency’.
The Blockchain Alliance includes the Digital Currency Initiative. Also, developer Gavin Andresen, BitFinex, and others joined it. All seek to dispel people’s prejudices about the criminal use of cryptocurrency and blockchain technology. According to Coin Center CEO Jerry Brito, the purpose of the Blockchain Alliance is to ensure that the benefits that blockchain and bitcoin can bring to millions of users are not underestimated because of the potential danger of the illegal use of cryptocurrency by small groups of people.