Our valued sponsor

Legal: EU proposes to make seizing assets easier

Status
Not open for further replies.

Martin Everson

Offshore Retiree
Staff member
Moderator
Jan 2, 2018
10,321
1
10,004
173
Register now
You must login or register to view hidden content on this page.
The devil is in the detail if one reads the actual EU text :confused:. So glad my assets have left the EU.

https://news.yahoo.com/eu-proposes-seizing-assets-easier-134653505.html
----- quote start

BRUSSELS (Reuters) - The European Commission wants to make it easier to confiscate assets linked to serious illegal activities and suspected criminals, including those evading European Union sanctions against the Kremlin, according to a draft document seen by Reuters.

The legislative proposal, due to be published on Wednesday and still subject to changes, is aimed at addressing a longstanding weakness in the EU where many states lack sufficiently robust legal frameworks to seize criminal assets, making it easier for criminals to hide their resources and benefit from illegal activities.

The war in Ukraine further exposed this weakness, as many states are struggling to freeze assets of people sanctioned by the EU for their ties to the Kremlin - and many more lack legal powers to confiscate frozen assets.

The legislative proposal would address these weaknesses by creating a common legal framework.

Crimes for which the new rules would apply are terrorism, participation in a criminal organisation, human trafficking, money laundering, and also the violation of EU sanctions, which under a separate proposal, also to be published on Wednesday, would become a crime across the EU.

Asset seizures would generally require a conviction, but under the draft law, they could be allowed pending trial in some cases for suspected criminals, and also when they are "transferred by a suspected or accused person to third parties," including family members.

Authorities in EU states have said one of the main obstacles they faced in enforcing the sanctions against Moscow was that affected people had their assets registered under somebody else's name, or transferred them before sanctions were implemented.

"We are working on a European tool to make confiscations possible everywhere in all EU states", the EU justice commissioner Didier Reynders said while pre-announcing the incoming measures earlier in May. He said one of the ultimate aims was to redistribute proceeds from these confiscations to Ukraine.

To become law, the proposal needs the backing of EU governments, which have traditionally been cautious about reforms that require changes to their criminal laws.

----- quote end
 
Tell me how to do that
In your private bedroom, make a poster of key in huge font. Daily see and chant the key when ever you are free, try to chant as many time as possible. Gradually as time pass your brain remembers. Key stuck in your heart by time practicing. Sound funny but it works. After you remember key in your brain. You can remove poster.
 
In your private bedroom, make a poster of key in huge font. Daily see and chant the key when ever you are free, try to chant as many time as possible. Gradually as time pass your brain remembers. Key stuck in your heart by time practicing. Sound funny but it works. After you remember key in your brain. You can remove poster.
I don’t trust myself enough for doing that, and I might fry my brain in the process. Like the Hare Krishna do with their Hare Hare chant rof/%
 
You can setup shamir secret key. Most better wallets support this.
For example you create one seedphrase with a 3/5 recovery set.
And then you distribute the 5 pieces wherever you see fit.
To recover your seedphrase, you will need to get only 3 out of these 5 (any 3 combination can restore it).

That is how it can be spread around.

You can also pair with multi-sig wallets...

https://en.wikipedia.org/wiki/Shamir's_Secret_Sharing
 
  • Like
Reactions: troubled soul
You can setup shamir secret key. Most better wallets support this.
For example you create one seedphrase with a 3/5 recovery set.
And then you distribute the 5 pieces wherever you see fit.
To recover your seedphrase, you will need to get only 3 out of these 5 (any 3 combination can restore it).

That is how it can be spread around.

You can also pair with multi-sig wallets...

https://en.wikipedia.org/wiki/Shamir's_Secret_Sharing
This sounds much better.
Which wallets support it?
 
In your private bedroom, make a poster of key in huge font. Daily see and chant the key when ever you are free, try to chant as many time as possible. Gradually as time pass your brain remembers. Key stuck in your heart by time practicing. Sound funny but it works. After you remember key in your brain. You can remove poster.
Then one day you fall down the stairs, have a concussion and no longer remember your keys (or you just die for any reason)- whoops, your entire net worth is gone and irrecoverable. GAME OVER

Paper wallet Bitcoin will be only asset that Government Can not freeze in future.
No wonder why Bitcoin becoming popular?
Bitcoin price is down But Its use will increase gradually
I don't see how this is even relevant to Bitcoin.

Bitcoin is 100% fully transparent, every single transaction is open to scrutiny and is open for everybody to see. If you really want to hide money to protect against seizure, Bitcoin is the last thing one would use
 
Last edited:
Bitcoin is 100% fully transparent, every single transaction is open to scrutiny and is open for everybody to see. If you really want to hide money to protect against seizure, Bitcoin is the last thing one would use
please exlain to me. If you're using a 100% anonylous wallet how would anyone be able to trace a transaction to you?
 
  • Like
Reactions: troubled soul
Then one day you fall down the stairs, have a concussion and no longer remember your keys (or you just die for any reason)- whoops, your entire net worth is gone and irrecoverable. GAME OVER


I don't see how this is even relevant to Bitcoin.

Bitcoin is 100% fully transparent, every single transaction is open to scrutiny and is open for everybody to see. If you really want to hide money to protect against seizure, Bitcoin is the last thing one would use
Not entirely correct as you can take (somewhat complicated steps depending on your tech abilities) to mitigate you leaving trails.
But by default, yes it is transparent.
 
How did topic thread shift so far while I was away....lol. Keep to topic please.
 
Register now
You must login or register to view hidden content on this page.
Status
Not open for further replies.