Judge says cryptocurrency is ‘a crime proceed’

Cryptocurrency worth €25,000 held by a man serving a prison sentence for drugs offences are the proceeds of crime, the High Court has ruled.

Judge says cryptocurrency is ‘a crime proceed’

Cryptocurrency worth €25,000 held by a man serving a prison sentence for drugs offences are the proceeds of crime, the High Court has ruled.

In a case that “broke new legal ground” relating to online currency, Ms Justice Carmel Stewart granted orders sought by the Criminal Assets Bureau (CAB) in respect of 2,000 units of a currency known as ether or ethereum, worth about €25,000 found in a crypto-currency ‘online wallet’ belonging to Neil Mannion.

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