It’s nice to know that if you land in jail you might be able to make your bail with cryptocurrency.
A Serbian man accused of hacking video game company Electronic Arts was ordered to pay $750,000 in cryptocurrency for bail last week by a federal judge in San Francisco, according to the U.S. Attorney’s Office.
Cryptocurrency is often associated with ransomware and criminal activities on the web. So how appropriate that when Martin Marsich, 25, nabbed in early August at San Francisco’s airport, came before Judge Jacqueline Corley he was told to pay the bail in the cryptocurrency of his choice before being released to a halfway house.
U.S. Assistant District Attorney Abraham Simmons told the Palo Alto Daily Post he doubted it was the first time a judge had allowed cryptocurrency for bail because judges can order bail in any type of asset, including property, as long as the threat of forfeiting it forces the accused to be back in court on the trial date. Read more here.