According to recent reports, this week a federal judge ruled that Martin Marsich may pay his bail in “Bitcoin or any other cryptocurrency“. Marsich currently faces charges of hacking into a local video game company, and his bail amount stands at $750,000.
Assistant District Attorney Abraham Simmons went out his way to provide a “broad” definition of the different methods offenders can use to pay off their bails, and explained that, technically, Marsich could make the huge payment in any format that is deemed fit or is ordered by the judge. This even means real estate owned by a third party can also be used in this regard.
“It really is quite broad,” he explained to reporters. “The judge could order just about anything. What the objective is is to get the defendant to comply with an order to appear later.”
Simmons also explained that making a payment in alt-coins would not bring in unnecessary complications regarding issues such as volatility and fluctuation of exchange rates.
“The idea is to get him to court, not necessarily to maintain the value of any particular asset,” he said. He also added that it was very likely there had been prior instances of paying off bail in cryptos.
Even if the scenario occurred that value of the amount paid is hit by major fluctuations, it would not “mean that the court would care.”
This new friendliness of the federal court towards Bitcoin is indeed rather surprising. While California does have some of the most lenient laws regarding digital currencies, lawmakers not just within the state have constantly been linking it to criminal activities. However, the US DEA has recently stated that law agencies in the country have taken to understanding digital currencies more and more, and its appeal has definitely increased.
Last year, a project from New York started accumulating crypto funds to help in paying bills for this in a dire financial condition.