Coinbry

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CEO argues that on-chain tool for seizing crypto is a necessity despite being a nightmare for purists

CEO argues that on-chain tool for seizing crypto is a necessity despite being a nightmare for purists

– A U.S. federal court used Jurat Network’s on-chain technology to lock criminals out of their crypto accounts.

– The individuals were sanctioned for money laundering and supporting North Korea’s weapons program.

– Founder Mike Kanovitz defended the protocol, acknowledging potential criticism from crypto purists.

– Jurat’s blockchain connects with court dockets to enforce court orders and provide due process protections for digital assets.

– Kanovitz believes that on-chain legal enforcement is necessary for mainstream adoption and to combat scams and hacks.

– The tool currently only works in the U.S. on the JCT blockchain, but there are plans to expand to other Ethereum Virtual Machine-compatible blockchains in the future.

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