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Bitcoin and Ethereum are Potential Election Bribery Tools - Ministry of Justice, Taiwan

by BSCN

July 5, 2023

With law enforcement already taking active measures, the Ministry's efforts aim to prevent these emerging methods from undermining the integrity of the 2024 general election.

Countering Election Bribery

Popular cryptocurrencies Bitcoin and Ethereum are being identified as potential tools for election bribery in Taiwan, according to the Ministry of Justice, as reported by China Times. In an effort to curb such practices in the upcoming 2024 general election, the police and prosecutors are taking active measures.

The Ministry highlighted that bribery methods are evolving, extending beyond the traditional cash-for-tickets approach. Third-party payment platforms and virtual currencies, including Line Pay, Pi Wallet, Jiekou Payment, and Oufubao, as well as game points and digital currencies like Bitcoin and Ethereum, are now at risk of being exploited for bribery purposes.

Over the past 23 years, more than 1.254 billion yuan has been disbursed in rewards for reporting and bribery, with approximately 50 million yuan believed to have been issued during the previous year's nine-in-one election. The Ministry's efforts aim to prevent these emerging methods from compromising the integrity of the 2024 general election.

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