The U.S. Supreme Court lifts restrictions on the sale of nearly 70,000 Silk Road bitcoins

ChainCatcher news, according to Protos, the U.S. Supreme Court has declined to hear an appeal regarding 69,370 bitcoins related to Silk Road, effectively lifting restrictions on the sale of bitcoins worth $4.4 billion. Due to a lower court's order for the U.S. government to "dispose of the seized defendant's property according to law," U.S. Marshals or other agencies may soon receive court instructions to liquidate a large amount of bitcoin stolen from Silk Road.

Battle Born Investments purchased bankruptcy claims after Ross Ulbricht's dark web market Silk Road shut down in 2013. Battle Born claims to possess bitcoins seized from "Individual X," who allegedly stole the bitcoins from Silk Road. The disputed wallet has now been emptied and is held by the U.S. government, awaiting court instructions.

Battle Born has requested a hearing on its claims, asserting that it is "an innocent owner of the defendant's property by virtue of its status as a purchaser of bankruptcy assets." However, since the nine justices will not hear the case during this term, the U.S. District Court's forfeiture order is likely to prevail. Although some procedures and legal reviews still need to be completed before the U.S. government can actually sell the bitcoins, due to the Supreme Court's rejection, U.S. Marshals may auction off additional billions.