Once crime proceeds or instrumentalities are identified, they can be subject to seizure proceedings. Seizure, as noted above, implies taking control of a specified property, with the competent authority taking over possession, administration, or management of the seized property.
Although there is relevant experience in terms of seizing and confiscation of electronic money or accounts (intangible assets) that can be used as an analogy, virtual currencies, in the absence of state regulation, operate beyond the realm of established financial institutions and transactions. When talking about the seizure of virtual currencies as proceeds/instrumentalities of crime, differences between centralized and decentralized currencies lead to different approaches that may work in such cases.
Post your comment on this topic.