Japanese Man Has Cryptocurrency Assets Seized Over Years of Unpaid Parking TicketsJuly 13, 2018 10:49 pm
Bitcoin News reported that Japanese police seized cryptocurrency from a man with years of unpaid parking fines on Friday.
The Hyogo Prefectural Police traffic guidance division announced the move which was allowed after a new law was enacted in April 2017 which allowed police to seize cryptocurrency like any other financial asset.
The 59-year-old resident had multiple delinquent parking tickets in the Kansai region in Japan.
Local newspaper The Kobe Shimbun said around 5,000 yen ($44) worth of cryptocurrency was seized, though the police did not reveal which cryptocurrency was seized.
Nikkei claimed “there were 2 kinds” of digital currencies seized in the first time Japan has seized the crypto tokens in relation to parking violations.
However, the total amount owed by the man was not available in his cryptocurrency exchange account.
The Kobe Shimbun said the man failed to pay the total amount of 99,700 yen ($885) for four parking tickets issued between 2014 through 2016.
The news outlet also said that if payment was not fully given to the police by the end of the month, the cryptocurrency will be cashed out and then paid to the prefectural police at whatever the current rate will be.
The Hyogo Prefectural Police said the parking violations were considered “unattended vehicle,” which means “a vehicle that is illegally parked, with its driver away from the car, and which cannot be started immediately. This is regardless of the length of parking time, or whether the vehicle engine is turned on or off, or whether the emergency flashing lights are on or off.”
“Land, houses, automobiles, bank savings, salary, and life insurance payouts could be seized, based on the decision of the Public Safety Commission,” the police said.
But the police said they did not know the man’s employment and he had no cash deposits or savings so they turned to the revised fund settlement act which allowed them to seize his cryptocurrency.
–WN.com, Maureen Foody