cryptocurrency

Cryptocurrency is becoming a more familiar way to pay for things. One option is as part of a crowd, through a decentralized autonomous organization. In this relatively new kind of group, also called a DAO, decisions and choices are governed by holders of one kind of cryptocurrency token, such as ethereum or bitcoin. DAOs also use “smart contracts” that make decisions through online votes by all participants who wish to weigh in and other forms of automation. DAOs are essentially clubs that harness both crowdfunding and cryptocurrency to operate in arenas from art to sports. They are also cropping up in philanthropy. One good example is the Big Green DAO. Launched in late 2021, it’s tied to a decade-old food justice charity that had revenue in excess of US$9 million in 2019. Big Green’s...

In a court in the Eastern District of Virginia, a Saudi national admitted downloading child abuse content from a darkweb platform that provided illegal content to paying members. The announcement, published on the Department of Justice Office of Public Affairs’ website, highlighted the fact that the defendant had “paid cryptocurrency” to access this darkweb platform in search of illegal pictures and videos. The case, brought to the attention of law enforcement agencies by Project Safe Childhood, is one of only a small number of cases involving child abuse platforms with a membership fee payable in cryptocurrency. These forums, chat rooms, imageboards, and and similar content distribution sites have often presented a barrier of entry for law enforcement by requiring members or users to upl...

Tag: cryptocurrency

DAOs – Cryptocurrency-Funded Groups Are Becoming Charities – Here Are Some Issues To Watch For

Saudi Man Admits Paying for “Sadistic” Child Pornography with Cryptocurrency