The Coming Confiscation of Financial Assets

[Based_Christian_Dude]

In terms of pure wealth protection and a system that's truly outside the status quo of globalhomo, the only thing I see is Monero as explained here:


Of course, cryptocurrencies can't solve the private property ownership problem with our houses and vehicles. Our only hope is anonymous shell companies and offshore trusts.

 

[Deepdiver]

I like Monero a lot except it is under attack in the UK as the money laudering drug dealing islamo terrorists preferred privacy crypto subject to seizure...

New powers to seize cryptoassets used by criminals go live

Greater powers for the National Crime Agency and police to seize, freeze and destroy cryptoassets used by criminals have come into force today.

www.gov.uk

and;

The United Kingdom has recently granted enhanced powers to its law enforcement agencies, including the National Crime Agency (NCA) and the police, to combat illicit activities involving cryptoassets. These new powers, which came into effect on April 26, 2024, aim to address the growing use of cryptoassets by organized criminals for money laundering and other illegal purposes12.

Here are the key changes brought about by these enhanced powers:

1. Seizure without Arrest:
   • Previously, police were required to make an arrest before seizing cryptoassets from a suspect. However, under the new rules, they can now directly seize cryptoassets known to be criminally obtained, even if the suspect’s identity is protected or if they are based overseas.
2. Seizing Information-Related Items:
   • Law enforcement can now seize items that could provide information to aid investigations. This includes written passwords or memory sticks.
3. Controlled Electronic Wallets:
   • Officers have the authority to transfer illicit cryptoassets into an electronic wallet controlled by law enforcement. This prevents criminals from accessing those assets.
4. Destruction of Crypto Assets:
   • If returning a crypto asset to circulation is not in the public interest, UK law enforcement can destroy it. This provision applies to privacy coins, which offer high anonymity and are often used for money laundering.
5. Victims’ Rights:
   • Victims can apply for the release of money from their cryptoassets accounts.

These reforms strike a balance between curbing criminal misuse of cryptoassets and supporting the legitimate growth of the crypto industry. By empowering law enforcement agencies, the UK aims to prevent criminals from benefiting from illegal activities while enhancing national security3.

Security Minister Tom Tugendhat aptly summarized the impact of these measures: “These reforms are bad news for criminals; they send a clear message that we will never let crime pay” 3. The fight against illicit crypto transactions has entered a new phase, bolstered by these powerful tools to strip criminals of their ill-gotten gains.

 

[Deepdiver]

David Webb The Great Taking Channel and updates...

https://www.youtube.com/@TheGreatTaking

 

[Blade Runner]

Roger Ver was arrested for tax-fraud. He did not declared all the bitcoins he had before renouncing his US citizenship.

I saw that he was arrested. Was he not out of the US already? sheesh - edit - I see the Spanish got him for Uncle Sammy - as he passed through. D'oh

I don't get people who don't declare properly and just exit, however sucky it may be, when they could have 10s of millions either way. It's amazing to me. Other people work for decades to get even 2 million of FIRE money, which is nothing to laugh at, and this guy can't be happy with a scenario of early BTC adoption falling into his lap, and just moving on with life. Sad stuff.

 

[Cooper]

They could have probably gotten him on a number of technicalities.

 

[Based_Christian_Dude]

I like Monero a lot except it is under attack in the UK as the money laudering drug dealing islamo terrorists preferred privacy crypto subject to seizure...

New powers to seize cryptoassets used by criminals go live

Greater powers for the National Crime Agency and police to seize, freeze and destroy cryptoassets used by criminals have come into force today.

www.gov.uk

and;

The United Kingdom has recently granted enhanced powers to its law enforcement agencies, including the National Crime Agency (NCA) and the police, to combat illicit activities involving cryptoassets. These new powers, which came into effect on April 26, 2024, aim to address the growing use of cryptoassets by organized criminals for money laundering and other illegal purposes12.

Here are the key changes brought about by these enhanced powers:

1. Seizure without Arrest:
   • Previously, police were required to make an arrest before seizing cryptoassets from a suspect. However, under the new rules, they can now directly seize cryptoassets known to be criminally obtained, even if the suspect’s identity is protected or if they are based overseas.
2. Seizing Information-Related Items:
   • Law enforcement can now seize items that could provide information to aid investigations. This includes written passwords or memory sticks.
3. Controlled Electronic Wallets:
   • Officers have the authority to transfer illicit cryptoassets into an electronic wallet controlled by law enforcement. This prevents criminals from accessing those assets.
4. Destruction of Crypto Assets:
   • If returning a crypto asset to circulation is not in the public interest, UK law enforcement can destroy it. This provision applies to privacy coins, which offer high anonymity and are often used for money laundering.
5. Victims’ Rights:
   • Victims can apply for the release of money from their cryptoassets accounts.

These reforms strike a balance between curbing criminal misuse of cryptoassets and supporting the legitimate growth of the crypto industry. By empowering law enforcement agencies, the UK aims to prevent criminals from benefiting from illegal activities while enhancing national security3.

Security Minister Tom Tugendhat aptly summarized the impact of these measures: “These reforms are bad news for criminals; they send a clear message that we will never let crime pay” 3. The fight against illicit crypto transactions has entered a new phase, bolstered by these powerful tools to strip criminals of their ill-gotten gains.

Yeah, that's a cypherpunk dystopia right there. I'd definitely leave UK if I were you. On the Monero confiscation, there's plenty of ways to hide your keys without ever exposing your knowledge of said crypto. Main thing is to just keep your mouth shut before they get suspicious. The only problem with Monero is trying to get it as a tech-illiterate normie. Those who are tech literate can mine it or host a node. Won't be "profitable," but at least you get something.

 

[Pointy Elbows]

I saw that he was arrested. Was he not out of the US already? sheesh - edit - I see the Spanish got him for Uncle Sammy - as he passed through. D'oh

I don't get people who don't declare properly and just exit, however sucky it may be, when they could have 10s of millions either way. It's amazing to me. Other people work for decades to get even 2 million of FIRE money, which is nothing to laugh at, and this guy can't be happy with a scenario of early BTC adoption falling into his lap, and just moving on with life. Sad stuff.

They could have probably gotten him on a number of technicalities.

Kim Dotcom posted a long note on X yesterday about him (they appear to be friends in NZ). Kim claims Ver departed the US with his bitcoin when it was still of very low value and subject to high relative volatility - meaning they could've been worth millions USD on day 1 and a few thousand USD the next day. Now that the unit value is much higher, they can adjust the basis of the crime up to current prices - exaggerating the "fraud."

No matter how you cut it, the USG is intent on getting your crypto. They have proven the will and ability to issue warrants for and seize crypto many times by now. Personal physical wallets are a must for crypto holders.