Bitcoin and Ethereum: Potential Election Bribery Instruments, Warns Taiwan’s Ministry of Justice

According to data from the Ministry of Justice, a total of over 1.254 billion yuan in rewards for reporting and bribery have been issued from 2000 to the end of May this year. It is estimated that nearly 50 million yuan were issued as part of the nine-in-one election bonus last year, with ongoing reviews and issuance.

The Supreme Prosecutor’s Office reported that as of June this year, 1,335 cases related to bribery in the nine-in-one elections last year had been prosecuted. 

Prosecutorial agencies across the country also filed lawsuits against vote bribers for invalid elections. This included 192 cases involving 193 individuals, with Taipei City Councilor Lin Xinger and Miaoli County Magistrate Zhong Dongjin among them. In comparison to the previous nine-in-one election, there was an increase of four cases. Three of these cases were determined to be invalid by the court. National prosecutors seized nearly 15 million yuan, setting a record compared to previous years.

Cryptocurrencies identified as means of bribery

The Ministry of Justice acknowledged that bribery methods are evolving and are no longer limited to cash transactions. Emerging third-party payment platforms such as Line Pay, Pi Wallet, Jiekou Payment, and Oufubao, as well as digital currencies like Bitcoin and Ethereum, including game points and virtual currencies, can be used as tools for election bribery. The police and prosecutors are actively taking preventive measures to address these methods in the upcoming 2024 general election.

Cryptocurrencies are being recognized as a potential means for bribery in various contexts, including elections. The nature of cryptocurrencies, such as their decentralized and pseudonymous nature, has raised concerns about their potential misuse for illicit activities, including bribery attempts.

Their digital nature allows for quick and relatively anonymous transactions, making it possible for individuals to use cryptocurrencies to influence elections through illicit means. Authorities and regulatory bodies are increasingly monitoring and addressing this issue to prevent the misuse of cryptocurrencies for bribery purposes.