EU IP Office: Pirates Are Accepting Bitcoin to Hide Criminal Proceeds

EU IP Office: Pirates Are Accepting Bitcoin to Hide Criminal Proceeds

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In a newly released report, the European Union Intellectual Property Office (EUIPO) has analyzed certain websites or ‘business models’ that infringe on intellectual property rights, some of which that relies on bitcoin and TOR.

The EUIPO, the authority that manages the EU trade mark and works alongside the IP offices of other EU member commissioned a research study on business models that actively infringe on intellectual property rights (IPR).

The study [PDF], commissioned in 2015 and released recently, highlights several methods and practices through which pirates and pirate-friendly domains use technologies to evade authorities. Altogether, 25 websites or business models were identified. Websites that were built up due to the “ingenuity” of IPR infringers who have even “outpaced” the development of legitimate business models that are playing catch-up to understanding e-commerce business models, according to the report.

These models, according to the report, are using new technologies to profit from illegal IPR infringements. More specifically, technologies such as bitcoin and TOR, says the EUIPO.

An excerpt from the forward of the report reads:

It [a piracy-centric shadow economy] more and

Read more ... source: TheBitcoinNews

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