Last week in Russia, state agents tore apart the offices of FBK, a privately funded anti-corruption foundation, freezing group assets and more than 100 bank accounts. Officials are using suspicion of money laundering as justification for targeting the largely bitcoin-funded group, possibly in a bid to quell their hand in upsetting Moscow politics. This case and others, like raising donations or moving through airport security checks, demonstrates something bitcoiners have known for years: a math-based money that exists on the blockchain cannot be confiscated.
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Empty Safes in Russia
Alexey Navalny’s Moscow-based Anti-Corruption Foundation, known as FBK, is a perpetual thorn in the side of prevailing political powers in Russia, receiving significant funding in bitcoin and converting it to Russian rubles via a cash-in exchange service. According to Russian officials, the group has potentially laundered 75 million rubles (over 1 million…