{"id":31493,"date":"2023-07-05T02:20:34","date_gmt":"2023-07-05T06:20:34","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/taiwan-says-bitcoin-eth-used-in-bribery-cases\/"},"modified":"2023-07-05T02:20:36","modified_gmt":"2023-07-05T06:20:36","slug":"taiwan-says-bitcoin-eth-used-in-bribery-cases","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=31493","title":{"rendered":"Taiwan Says Bitcoin, ETH Used in Bribery Cases"},"content":{"rendered":"
\n

Bitcoin (BTC) and Ethereum (ETH)-powered \u201cbribery\u201d cases are on the rise in Taiwan, the nation\u2019s justice ministry has claimed.<\/p>\n

Per the China Times, the ministry warned that cash is no longer the only currency used in corruption cases.<\/p>\n

The ministry said that BTC, ETH, and other coins were also \u201cemerging\u201d as tools of corruption.<\/p>\n

The government organ said that it feared that BTC, Ether, and other cryptoassets were being used as \u201celection bribery tools\u201d ahead of next year\u2019s general elections.<\/p>\n

Taiwan is set to go to the polls to choose a new President in mid-January 2024.<\/p>\n

And the ministry said that both the police force and prosecutors have \u201cactively prevented\u201d crypto and other \u201cmethods\u201d of corruption from \u201cmaking their presence felt\u201d in the general election.<\/p>\n

The ministry claimed that the \u201cmethods\u201d used by people looking to bribe officials are \u201cchanging with each passing day,\u201d and are \u201cno longer limited to\u201d cash.<\/p>\n

As well as crypto, corrupt officials are being offered bribes via mobile e-pay platforms like Line Pay, Pi Wallet, Jiekou, and Oufubao ahead of the elections, the ministry said.<\/p>\n

The ministry added that millions of dollars worth of rewards had been handed over to individuals who had tipped police off about cases of suspect bribery in the past two decades.<\/p>\n

Taiwanese Bitcoin, ETH Bribery Cases Rise \u2013 Who Are Corrupt Officials?<\/h2>\n

Per figures released by the Supreme Prosecutor\u2019s Office, \u201ca total of 1,335 cases\u201d of corruption were processed in the wake of last year\u2019s municipal elections.<\/p>\n

Over 700 people have been brought to trial on election-related corruption charges.<\/p>\n

Officials caught taking bribes include ex-members of Taiwan\u2019s executive body, former central government officials, a mayor, a city council speaker, and a deputy speaker, as well as other high-ranking public office-holders.<\/p>\n

Last month, one of Taiwan\u2019s biggest telecommunications firms, Taiwan Mobile, was reported to have entered talks with a number of local crypto platforms.<\/p>\n

Taiwan Mobile could potentially enter a partnership deal with at least one of the firms, people \u201cfamiliar with the matter\u201d claimed.<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) and Ethereum (ETH)-powered \u201cbribery\u201d cases are on the rise in Taiwan, the nation\u2019s justice ministry has claimed. Per the China Times, the ministry warned that cash is no longer the only currency used in corruption cases. The ministry said that BTC, ETH, and other coins were also \u201cemerging\u201d as tools of corruption. The […]<\/p>\n","protected":false},"author":1,"featured_media":31494,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-31493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nTaiwan Says Bitcoin, ETH Used in Bribery Cases | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) and Ethereum (ETH)-powered \u201cbribery\u201d cases are on the rise in Taiwan, the nation\u2019s justice ministry has claimed.Per the China Times, the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=31493\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" 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