Bitcoin

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<ul class="news-points wp-block-list" "wp-block-list"> 
 <li>USMS accelerates Silk Road Bitcoin liquidation, aiming to sell assets within 5 business days of forfeiture.</li> 
 <li>New USMS protocols reduce delays in Bitcoin liquidation, ensuring faster fund deposit into the Forfeiture Fund.</li> 
 <li>Segregated assets and rapid sales mark a shift in USMS handling of Silk Road Bitcoin under Coinbase agreement.</li> 
</ul> 
The US Marshals Service (USMS) is <a href="https://x.com/SGJohnsson/status/1824285716286751214" target="_blank" rel="nofollow">accelerating the sale</a> of Bitcoin seized from the Silk Road. This move follows the service’s updated approach to handling cryptocurrency assets under its custody. Historically, the USMS has faced challenges in disposing of large quantities of Bitcoin, primarily due to the need to justify auction sizes and the bureaucratic processes involved.&nbsp; 
To address these issues, the USMS has adopted new procedures, especially when using its exchange account. These changes allow for quicker sales without the usual auction delays. The service aims to sell cryptocurrency within five business days of forfeiture, as stated in its cryptocurrency services contract. 
This fast-paced selling is also driven by <a href="https://x.com/SGJohnsson/status/1824285719176606134" target="_blank" rel="nofollow">financial reporting rules</a> that limit withdrawals from exchange accounts near the end of each month. Additionally,…
The post <a href="https://coinedition.com/coinbase-helps-u-s-marshals-sell-seized-bitcoin/">Coinbase Helps U.S. Marshals Sell Seized Bitcoin</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Coinbase Helps U.S. Marshals Sell Seized Bitcoin

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