Are Bitcoin and Ethereum Being Used as Election Bribery Instruments? Taiwan Ministry Raises Alarms

Recent data released by the Ministry of Justice has shed light on the significant amount of money, totaling over 1.254 billion yuan, that has been disbursed as rewards for reporting and bribery from 2000 until the end of May this year.

Notably, approximately 50 million yuan was allocated as part of the nine-in-one election bonus last year, with ongoing reviews and distributions still underway.

Shocking Stats Spotlighted

According to the Supreme Prosecutor’s Office, as of June this year, a staggering 1,335 cases related to bribery in the nine-in-one elections held last year have been prosecuted. This highlights the serious consequences of engaging in corrupt practices during elections.

Prosecutorial agencies throughout the country have actively pursued legal action against individuals involved in vote bribery, particularly in cases of invalid elections. Notably, there have been 192 cases involving 193 individuals, with notable figures like Taipei City Councilor Lin Xinger and Miaoli County Magistrate Zhong Dongjin among them.

This marks an increase of four cases compared to the previous nine-in-one election. In a significant development, the court declared three of these cases as invalid. Furthermore, national prosecutors successfully seized nearly 15 million yuan, setting a record when compared to previous years.

Bribery Has Evolved!

The Ministry of Justice has acknowledged the evolving nature of bribery methods, emphasizing that they are no longer restricted to cash transactions. The emergence of third-party payment platforms like Line Pay, Pi Wallet, Jiekou Payment, and Oufubao, as well as the utilization of digital currencies such as Bitcoin and Ethereum, including game points and virtual currencies, have become tools for election bribery.

Read More: Bitcoin Maintains Position Above $30.5K as the Whole Market Trades in Green

Recognizing this concerning trend, the police and prosecutors are proactively implementing preventive measures to address these tactics in the upcoming 2024 general election.

Cryptocurrencies are Being Targeted

Cryptocurrencies are gaining recognition as potential means for bribery, extending their influence to various contexts, including elections. Their decentralized and pseudonymous nature has raised concerns about their potential misuse for illicit activities, particularly in attempts to bribe individuals.

The digital nature of cryptocurrencies enables swift and relatively anonymous transactions, allowing individuals to exploit them for the purpose of influencing elections through illegitimate means. To combat this issue, authorities and regulatory bodies are increasingly vigilant in monitoring and addressing the misuse of cryptocurrencies for bribery, aiming to uphold the integrity of elections and democratic processes.