Jeff Garzik Subpoenaed in Kleiman Bitcoin Lawsuit Against Craig Wright

On March 15, well-known bitcoin developer Jeff Garzik revealed he was subpoenaed by the U.S. District Court of Southern Florida in the infamous Kleiman vs Wright bitcoin lawsuit. The Kleiman family is suing the self-proclaimed Satoshi for roughly 300,000 BTC and Garzik has been served by the court and asked to submit assorted documents and possible evidence that would be relevant to the case.

Also Read: Satoshi’s Pre-Release Bitcoin Code Contains Fascinating Findings

The Kleiman Estate Wants Jeff Garzik to Reveal Anything He Knows About Satoshi, David Kleiman and Craig Wright

The Kleiman estate and David Kleiman’s brother Ira Kleiman believe Craig Wright defrauded David and manipulated his assets. Some people believe that David Kleiman (deceased) may have been the creator of bitcoin and the estate thinks he is owed about 300,000 BTC ($1.1 billion) from a trust that allegedly has 1 million BTC locked until the year 2020. News.bitcoin.com recently reported on Wright’s response to the billion dollar lawsuit after Judge Beth Bloom denied his attempt at dismissing the charges. Now the early bitcoin adopter and developer Jeff Garzik is involved with the lawsuit as he announced he’s been served with a subpoena to appear in court. The subpoena stems from the Kleiman’s council and asks Garzik to submit any evidence to the theory that David Kleiman was Satoshi Nakamoto.

“You got served,” Garzik exclaimed on Twitter. “The bitcoin lawsuit drones on. In the interest of radical transparency, here’s the subpoena that just arrived for me (sans page 1).”

The subpoena also asks for any communications between Garzik and Wright and whether he had any direct communications with Kleiman. The plaintiff’s counsel is in search of any documents that stem from David Kleiman, W&K Info Defense (Kleiman and Wright’s company), and any communications with an individual called Uyen Nguyen. The request also asks for any communications between Garzik and the pseudonym or moniker Satoshi Nakamoto and any evidence that is tied to the “Tulip Trust” or “GISCR Trust.” The subpoena also refers to the search for subjects like early bitcoin mining between Jan. 1, 2009 through April 2013. Other subjects include any documents tied to Mt. Gox, Silk Road, Liberty Reserve, and the Prometheus Project. The documents ask about communications between well known figures like cryptographer Ian Grigg, writer Andrew O’Hagan, and billionaire gambling tycoon Calvin Ayre.

Garzik’s Personal Theory

Wright and his council have denied the allegations against him and said the oral partnership between Wright and Kleiman was barred by the statute of frauds. “There was no written partnership agreement between Dr. Wright and David Kleiman and/or W&K Info Defense Research, LLC,” Wright’s attorney’s detailed in the 36-page response to the charges. Meanwhile, Wright has been telling the public throughout many published tweets and memoirs how he was involved with the creation of bitcoin.

In the 14-page request to Garzik it seems the Kleiman estate and council want to know everything the developer may have come across over the years. The request also mentions a Bloomberg article that talks about Garzik’s “personal theory” about David Kleiman. In the article Garzik states: “My personal theory is that [Satoshi Nakamoto] is the Floridian Dave Kleiman. It matches his coding style, this gentleman was self-taught. And the bitcoin coder was someone who was very, very smart, but not a classically trained software engineer.” This specific quote has led the Kleiman estate to believe that Garzik may know more about the relationship between Wright and Kleiman or have clues about David’s possible connection to the infamous Nakamoto.

What do you think about the subpoena sent to Jeff Garzik? Let us know what you think about this subject in the comments section below.

Image credits: Pixabay, Twitter and Scribd.

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Published at Fri, 15 Mar 2019 22:57:11 +0000

December 19, 2017

EU’s Bitcoin Database Could Make Privacy a Thing of the Past

The EU may set up a bitcoin database to keep track of crypto users’ identities and wallet addresses in its bid to combat terrorist financing and money laundering.

bitcoin has had its fair share of controversy, previously being seen as the preferred medium of exchange for criminals on the black market. In addition, its high level of anonymity has raised concerns that it could be used to finance terrorism, as well as to aid in money laundering schemes.

These negative associations are exactly why the European Union (EU) has been working towards to implementing regulatory processes with regard to cryptocurrencies. This year’s phenomenal increase in crypto prices and popularity might also have something to do with it though.

The crypto industry reached a record-breaking $600 billion market cap, with bitcoin being responsible for more than half of that. The most well-known digital currency has had an impressive year, peppered with drastic price surges and forays into mainstream adoption, thanks to futures contracts.

A Comprehensive Database for Crypto Users

The EU’s proposal mean that crypto exchanges will have to follow strict rules with regard to reporting any suspicious activity and will also have to adhere to customer identity regulations.

According to The Telegraph, the newest addition to the Fourth Anti Money Laundering directive states that the EU has the option of creating a “central database registering users’ identities and wallet addresses.”

The updated amendment went on to state:

The report shall be accompanied, if necessary, by appropriate proposals, including, where appropriate, with respect to virtual currencies, empowerments to set-up and maintain a central database registering users’ identities and wallet addresses.

This new proposal will have to wait until 2019 to be considered, the same time that the effectiveness of the new money laundering rules will be discussed. The information on these databases will be available to authorized institutions, such as the National Crime Agency and asset recovery authorities.

No More Hiding Behind bitcoin

These databases will completely rip off the veil of secrecy that shrouds bitcoin. This might be good news for regulators, but not for users. Even though their user information may be private, their transactions made with bitcoin are not.

In addition to exchanges, regulators also have their eye on ICOs for any related fraud or cybercrime. The IRS in America is also on the lookout for any sign of tax avoidance activity made possible with the help of digital currencies.

The irony is that bitcoin’s huge increase in popularity may actually be acting as a deterrent to cyber criminals as the currency’s network is under pressure, resulting in payment delays and high transaction fees.

Exchanges Could Embrace These Changes

Even with its secretive nature, some experts surprisingly believe that exchanges will be on board with the new regulations. Jacek Czarnecki, a lawyer specializing in digital currencies at the Polish law firm, Wardynski & Partners, had this to say:

The new regulatory framework might bring some civilization into the wild west of cryptocurrency and improve interconnections between the blockchain world and traditional financial systems, which have been rather shady so far.

Whether these new policies will have any effect on the popularity, and price, of digital currencies remains to be seen, as does the belief that it will possibly encourage faster mainstream integration.

What do you think about the recent increase in regulatory processes? Will it affect bitcoin’s price and popularity? Let us know in the comments below!

Images courtesy of Pexels, Bitcoinist archives, and Pixabay.

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