US Marshals looking for help dealing with their seized cryptocurrency

09 Mar, 2019
by David Borman
US Marshals looking for help dealing with their seized cryptocurrency

It has been reported by NewsBTC that US Marshals have posted a request for help with storage, liquidation or even destruction of cryptocurrency that has been seized during their operations. This move comes as the agency is anticipating an increase in the capturing of crypto from illicit activities in the years to come.

The gorvernment agency is reaching out to any firms that feel they can assist in safely and securely managing cryptocurrency. Duties can include the safe storage of crypto, the liquidation of crypto through an auction, the outright destruction of crypto, or even helping in returning coin to its rightful owner.

Beyond that, the request is fairly vague. It is made clear that it is not currently known just how much currency will be needed to be handled:

"The contractor shall remain capable of taking custody of all types and quantities of virtual currency without limitation, throughout the performance of this contract. This includes both coin and token types of currency."

It is possible that if the US marshals begin auctioning off crypto it could bring out large buyers looking to snatch up swatchs of the currency at discount rates. During the silk road auctions of a few years ago Bitcoin advocate Tim Draper is known to have purchased large amounts of the asset.

Whether there will be more auctions or the Marshals wil find another way too deal with their seized assets, stick with Chepicap for all updates!

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