The federal government of Taiwan has signaled plans to bar crypto from its 2024 presidential elections. The transfer goals to curb bribery and corrupt practices. The nation’s Supreme Court docket has prosecuted over 1,3000 instances of election bribery up to now yr.
The Taiwanese Ministry of Justice has decried the rising instances of election bribery and corrupt practices within the nation. The company says unhealthy actors have devised numerous technique of bribing corrupt officers, together with by way of bitcoin (BTC) and different digital currencies.
The authorities declare that residents have acquired over 1,254 billion yuan in rewards for reporting suspected instances of bribery to legislation enforcement brokers since 2000, and the apex court docket has efficiently prosecuted 1,335 bribery instances associated to the nation’s nine-in-one election of 2022.
Among the corrupt officers punished embrace Tainan Metropolis Council Speaker Qui Lili, and Deputy Speaker Lin Zhizhan, amongst others.
The ministry has made it clear that digital currencies like bitcoin and ether (ETH) and different rising platforms, together with Line Pay, Pi Pockets, and Jiekou Fee, could function efficient instruments for election bribery.
Towards that backdrop, Taiwanese authorities at the moment are collaborating to make sure these progressive cost strategies are usually not used within the nation’s presidential election slated for subsequent Jan.
Regardless of their alleged use by unhealthy actors for the incorrect functions, a number of politicians in america have just lately accepted crypto donations throughout electioneering campaigns. Blockchain-based voting has additionally been explored throughout numerous jurisdictions up to now.