Two years ago, the man was found guilty in a Swedish court for illegally earning 36 bitcoins through online drug sales. However, at the time his prosecutor Tove Kullberg used Bitcoin’s legal tender equivalent to defend her. Therefore, the court ruled that the man should be deprived of the bitcoin he had earned illegally at the time worth 1.3 million Swedish kronor (100,000 US dollars).
During the period after the man was convicted and imprisoned, his cryptocurrency has received so much attention that the Swedish law enforcement agency responsible for auctioning 36 BTC only needs to sell 3 BTC to meet the court’s requirements.
There is now 33 BTC, worth 1.5 million USD, which must be legally returned to its owner. In an interview with Swedish Radio, Kulberg said that in retrospect, the way she chose to defend her case was “unfortunate in many ways.” […] This led to consequences that I could not foresee at the time. She added:
“The lesson learned is to maintain the value of Bitcoin. The profit of the crime should be 36 Bitcoins, regardless of the value of Bitcoin at the time.”
Kulberg also emphasized that as cryptocurrencies continue to be adopted more and more widely, it is best for prosecutors to invest in educating their employees about the details of the industry. “The more we improve our knowledge within the organization, the fewer mistakes we make,” she said.
Cryptocurrencies—whether due to their volatility or technical design—continue to challenge global legal authority and procedures.In the UK, a working group approved by the government recently proposed a dispute settlement framework which will help Standardize smart contract dispute handling methodsSince Bitcoin is not recognized as legal tender or its agent, the Russian court last year Ruling not to return stolen cryptocurrency Victims of major crimes.