Norwegian Prosecutors Seek Bitcoin Fines

News | March 13, 2017 By:

Norway prosecutors have requested that a portion of any penalties assessed in an upcoming trial be paid in bitcoin.

The issue stems from a case involving three men arrested in June, 2015 and charged with selling drugs on dark web sites, including the now-defunct Silk Road marketplace. Prosecutors have stated in their charges that any convictions should require the accused to pay some of their requested penalties using 120 bitcoins and 3.1 mln Norwegian kroner.

Each bitcoin is worth ~10,000 Norwegian kroner, indicating that the Norwegian prosecutors have asked for 28 percent of any penalty to be paid in bitcoin. Prosecutors did not disclose why they are seeking the potential bitcoin penalities.

The trial against the three men is expected to begin at some point this year, according to reports. Several computers and undisclosed information that allegedly indicates that the trio were using bitcoin to facilitate their supposed activities were cited in reports on the arrests.