US prosecutors in
Federal authorities hauled in 29 655 units of the digital currency - worth
The bitcoins had belonged to
No one stepped forward to claim these bitcoins, which were found in electronic "wallets" used to store the digital currency.
An additional 144 336 bitcoins, worth more than
It all puts authorities in an unusual position, given their concerns about the way in which bitcoins and other digital currencies are used by criminals to circumvent regulations intended to prevent money laundering. By trading in bitcoins, the government could give the currency some legitimacy.
Bitcoin is essentially software code that defines units of value, which users can move back and forth among themselves. Unlike other virtual money transmitters, its value is not pegged to a hard currency like the dollar or the euro; it is determined by the demand for bitcoins.
A spokeswoman for
The timing of any sale could make a big difference in the amount the government could realise. - Reuters
Most Popular Stories
- Dmytro Firtash, Ukrainian Billionaire, Arrested in Vienna
- Obama, Ukraine Discuss Russian Incursion in Crimea
- Uli Hoeness, Bayern Munich President, Gets Prison for Tax Evasion
- Navarro Celebrates 2 Years of Vida Mia
- Calumet Photo Files for Bankruptcy
- Russia Holds Large Military Drills in South
- Ukraine Moves Closer to Joining E.U.
- Federal Gov't Deficit Continues to Decline
- Herbalife Puts Off Meeting for Icahn Talks
- Ukraine Loan Delayed While Congress Goes on Vacation