Criminal Prosecutions and Civil Litigation Concerning Virtual Currencies

Abstract

In this chapter, we review the major laws affecting virtual currencies and explore in substantial detail the many cases that have arisen that required governmental intervention. Among the most egregious cases are “The Silk Road” and “Darknet” cases whereby blockchain and virtual currencies formed the basis of numerous violations of the laws of both the United States and numerous other countries. Governments have the choice of proceeding criminally against violators or civilly which requires a much lower standard of proof and consequently is much easier to prosecute successfully.