US Marshals Service hires custodian for seized cryptocurrencies – Over 185,000 BTC confiscated, bought to date

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The US Marshals Service, one of many Division of Justice’s (DOJ) primary regulation enforcement companies, has employed a brand new custodian for its seized cryptocurrencies. The company has to date seized and auctioned greater than 185,000 bitcoins.

  • America Marshals Service (USMS) has chosen Anchorage Digital to supply safekeeping of cryptocurrencies seized in legal instances, the crypto custodian firm mentioned on Wednesday.
  • The USMS is likely one of the principal regulation enforcement companies of the USA Division of Justice (DOJ). It was additionally the primary federal regulation enforcement company within the nation.
  • Anchorage defined:

This award means Anchorage will likely be chargeable for offering a full suite of cryptocurrency providers.

  • Providers embrace ‘custody, liquidation, and actions reminiscent of bookkeeping, shopper administration, audit compliance, blockchain fork administration, constructing wallets, reworking token belongings into coin belongings. foreign money, and so forth., in addition to future actions related to the digital foreign money confiscation course of. », Detailed the corporate.

  • Earlier than hiring Anchorage, the USMS awarded the crypto custody contract to Bitgo in April, after spending greater than a 12 months in search of a custodian and monetary providers supplier for its inventory of seized crypto belongings. Bitgo was acquired by Galaxy Digital in Might. It is unclear why the DOJ determined to make use of Anchorage as an alternative of Bitgo to maintain seized cryptocurrencies.
  • Based on CNBC, the Marshals Service has confiscated and bought greater than 185,000 bitcoins price greater than $ 7.2 billion since about 2014. Enterprise capitalist Tim Draper received USMS public sale of 30,000 confiscated bitcoins from the defunct Silk Street in 2014.
  • The Marshals Service’s final bitcoin public sale was in February of final 12 months when greater than 4,041 BTC have been auctioned.

How do you’re feeling concerning the US Marshals Service hiring Anchorage to maintain the seized cryptocurrencies? Tell us within the feedback part under.

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