New Device To Seize Money Used During The Commission Of A Crime

[Deleted]

I get what you're saying.

But I think you forget exactly how much money this could tie up..for banks. For banks.

They aren't going to let this go without kicking and screaming. I know my employer won't.

They may not get a choice. There is no more regulated industry than finance, except nuclear technology, and it is one of the fastest to change. Every time governments gets a hard-on for any particular activity, they can change the financial landscape more or less instantly either directly via legislation or via the Federal Reserve system or by claiming national security.

In the meantime, digital currencies like Bitcoin, may be the next stage, i.e. proving grounds for attacking private accounts directly, since they are less protected yet have cash-like attributes.

[Deleted]

How long until people get properly pissed off about this so the state has to roll out the dead kids again to smear the complainants.

[Sanguinesun]

Wait until criminals get a hold of one of these devices.

They already have. The article is highlighting the efforts of both crime syndicates using this extortion scheme.

[Dadwen]

Nice not charged with anything and being kept from your property, and having to get lawyer$ to get it back (my guess they hope most people will think it's too much trouble or cost to get the $$ back and the state can suck in the dough.)

confirming a ID I can see, but freezing anyone's funds without a charge is BS.