A defendant in California has been allowed by the US Federal Court to pay his bail fees in the form of Bitcoin or another cryptocurrency.
According to reports, the man faced charges for hacking into video games company Electronic Arts, and was required to pay $750,000 bail. The federal judge in question allowed the money to be paid in cryptocurrency due to the broad restrictions.
“The judge could order just about anything,” said Assistant Disctrict Attorney Abraham Simmons. “What the objective is is to get the defendant to comply with an order to appear later. The idea is to get him to court, not necessarily to maintain the value of any particular asset.”
Simmons added that he doubts this is the first case of Bitcoin being used for this purpose. San Mateo County District Attorney Steve Wagstaffe disagrees however, saying: “It’s a new world. I love the new world.”
On whether the San Mateo County Superior Court would allow crypto bail, he added: “I can’t believe they do. I think they’re strictly certified checks and currency. I think they take only greenbacks.”
The state has previously taken steps towards accepting Bitcoin and other cryptocurrencies, introducing a bill in April that would allow blockchain to be included in formal documentation across California.
Senator Hertzberg said: “The world around us is changing, and government must adapt with these rapidly evolving times. California needs to continue our legacy of taking on new and developing technologies, especially ones like blockchain, which is embraced worldwide and presents a strong level of security that is resistant to hacking.”