The US government says they have broad extraterritorial jurisdiction over crypto-related businesses.
The Cryptocurrency Enforcement Framework issued by the U.S. Department of Justice stipulates a number of cases where it will exert its authority over foreign actors: "Where virtual asset transactions touch financial, data storage, or other computer systems within the United States", if they use cryptocurrency to import illegal products into the U.S. and if they "Provide illicit services to defraud or steal from U.S. residents".
"Finally, it bears emphasizing that if conduct involving virtual currency were to violate the U.S. statutes regarding material support of terrorism, the U.S. government could appropriately assert jurisdiction over such offenses anywhere in the world, consistent with due process, under the principle of protective jurisdiction."
The report alsocites Zcash, Monero and DASH usage as "Indicative of possible criminal behavior".
DOJ states it has jurisdiction over foreign crypto companies that touch US servers
Published on Oct 8, 2020
by Cointele | Published on Coinage
Coinage
Recent News
View All
First Mover: What's Next for Bitcoin as Wall Street Gets Vaccine Booster
Bitcoin was higher for a second day, staying in a range of between roughly $15,200 and $15,600, as news of progress in developing a coronavirus vaccine appeared to touch off a rally in U.S. stocks.
Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract
Bitcoin gained Wednesday while Ethereum 2.0 staking has been ramping up.
Citibank Analyst Says Bitcoin Could Pass $300K by December 2021
A senior analyst at U.S.-based financial giant Citibank has penned a report drawing on similarities between the 1970s gold market and bitcoin.
Blockchain Bites: Data Unions. Hard Forks. And One Citi Analyst's Case for $300K BTC.
A Citibank managing director thinks bitcoin could hit $318,000.