spot_imgspot_imgspot_img

Taiwan Ministry of Justice Raises Alarm: Are BTC and ETH Being Used as Bribery Tools?

  • Recent data published by the Taiwan Ministry of Justice indicates that a significant amount of 1.254 billion yuan has been distributed from the year 2000 until the end of this year.
  • According to the High Prosecutors Office, as of June this year, surprisingly, 1,335 bribery-related cases have been filed in connection with last year’s nine-in-one elections.
  • Digital currencies like Bitcoin and Ethereum have become instruments for election bribery.

The Taiwan Ministry of Justice has made statements regarding the amount of bribes given since 2000, highlighting the use of Bitcoin and Ethereum as bribery tools.

Taiwan Ministry of Justice Draws Attention to Bribery

Taiwan

Recent data published by the Taiwan Ministry of Justice reveals that a significant amount of 1.254 billion yuan has been distributed for reporting and bribery from the year 2000 until the end of this year. Approximately 50 million yuan was allocated as part of the nine-in-one election incentives last year, and ongoing investigations and distributions continue.

According to the High Prosecutors Office, as of June this year, surprisingly, 1,335 bribery-related cases have been filed in connection with last year’s nine-in-one elections. This demonstrates the serious consequences of engaging in corrupt actions during elections.

Prosecution agencies across the country have taken legal action against individuals involved in invalid elections. Specifically, 192 cases involving 193 individuals have been opened, including prominent figures like Taipei City Councilor Lin Xinger and Miaoli County Governor Zhong Dongjin.

This represents a four-case increase compared to the previous nine-in-one election. As a significant development, the court has declared three of these cases as invalid. Furthermore, national prosecutors have successfully seized nearly 15 million yuan, which is a record compared to previous years.

The Taiwan Ministry of Justice emphasizes that it is aware of the evolving methods of bribery, noting that it is no longer limited to cash transactions alone. The emergence of third-party payment platforms and the use of digital currencies such as Bitcoin and Ethereum, as well as game points and virtual currencies, have become instruments for election bribery.

Police and prosecutors, aware of this concerning trend, are implementing preventive measures against these tactics in the 2024 general elections.

Cryptocurrencies Targeted

Cryptocurrencies are recognized as bribery tools in various contexts, including elections. The decentralized nature and pseudonymous features of cryptocurrencies have raised concerns about their potential misuse for illicit activities, particularly for bribing individuals.

The digital nature of cryptocurrencies enables fast and relatively anonymous transactions, allowing individuals to exploit them to illegitimately influence elections. To address this issue, authorities and regulatory institutions are increasingly vigilant in monitoring and preventing the misuse of cryptocurrencies for bribery, aiming to preserve the integrity of elections and democratic processes.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?

Uniswap Introduces “uni.eth” Subdomains with ENS Integration: Here are the Details!

Decentralized exchange platform Uniswap has introduced uni.eth subdomains with Ethereum Name Service integration.

Ripple Initiates Collaboration with Zoniqx to Empower Asset Tokenization

Ripple, a leading enterprise blockchain and crypto solutions provider, joins forces with Zoniqx: Here are the details!
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
spot_imgspot_imgspot_imgspot_img

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?