Posts in category

Law


A U.S. judge has sided with the Commodity and Futures Trading Commission (CFTC) in a lawsuit involving an allegedly fraudulent crypto investment scheme, ruling that the cryptocurrencies involved are commodities for the purpose of the case. As CoinDesk reported in January, the CFTC charged two individuals and a Las Vegas-based business called My Big Coin Pay …

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On Thursday, September 6, the Fresno Division of the U.S. District Court for the Eastern District of California concluded a 14-month-long civil forfeiture case to seize assets and property that belonged to Alexandre Cazes, the Canadian national who committed suicide by hanging in Thai prison last summer – days after being arrested on suspicion of …

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The Reserve Bank of India made the argument on Wednesday at the Supreme Court that bitcoin cannot be recognized in the country. In a case that has been brought by a number of exchanges against the Indian central bank for blocking their access to banking services five months ago, the RBI argued via an affidavit …

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Blockchain can now be legally used to authenticate evidence in legal disputes in China, according to the country’s Supreme People’s Court. The court released new rules on Friday – that take immediate effect – clarifying various issues relating to how internet courts in China should review legal disputes. Part of the new regulation specifies that internet …

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Circle Internet Financial has announced the hiring of a former U.S. Department of Homeland Security (DHS) official as its chief legal officer. As reported on the company’s blog, the cryptocurrency startup has welcomed former DHS acting general counsel Gus Coldebella to its legal and senior leadership team. Going forward, Coldebella will oversee all of the …

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Convicts on parole in the southern Chinese city of Zhongshan can now find themselves being tracked over a blockchain network. The justice department of Zhongshan says it has launched a blockchain-based system that can monitor the movements of ex-prisoners to improve the quality of so-called “community correction,” a local media source reported on Thursday. The technology …

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An Australian federal agency is developing a national blockchain that will allow businesses to carry out transactions based on smart legal contracts. The Commonwealth Scientific and Industrial Research Organization (CSIRO) said on Wednesday that its research arm, Data61, is working with law firm Herbert Smith Freehills and IBM to conduct a pilot for a new …

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A group of judges, lawmakers and industry experts in South Korea are forming a new group aimed to discuss legal issues surrounding blockchain technology. Called the Blockchain Law Society, the group is holding its founding conference on Aug. 24 in the Seoul Central District Court, during which participants will discuss both regulatory issues around blockchain …

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From longer approval processes to the threat they might lose access to the European market, it’s safe to say U.K. blockchain startups are looking for contingency plans. A quick recap: in 2016, the U.K. held a referendum on whether to stay in the European Union (E.U.), with a majority of voters opting to leave the …

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Ohio has become the latest U.S. state to legally recognize data stored and transacted on blockchain. The news comes after lawmakers from the state introduced a bill in May that sought to treat blockchain data and smart contracts as electronic records in a bid to provide safe harbor for the emerging technology. Part of the wording …

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A Dubai-based international court dealing with civil and commercial disputes in the financial industry is planning to launch what it calls a “Court of the Blockchain” to streamline legal operations. The Dubai International Financial Center (DIFC) Courts announced on Monday that it is teaming up with the government-backed Smart Dubai initiative to form a task …

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Cryptocurrency exchanges in South Korea may soon lose eligibility for significant tax benefits currently granted to smaller companies. A proposed revision to the existing tax law, announced by the South Korean government on Monday, would exclude crypto exchanges from the category of startups or small and medium enterprises (SMEs) that can claim a tax cut …

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A senior executive at South Korea’s Financial Services Commission (FSC) has called on politicians to pass a bill regulating domestic cryptocurrency exchanges with urgency in order to counter lax security in the industry. In an interview with Bloomberg, Hong Seong-ki, head of the virtual currency response team at the FSC, said: “While crypto markets have seen …

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The U.K. Law Commission, an independent agency set up by the U.K. parliament to propose legal reform actions, is starting a research project on law reform to bring clarity in the current system for using blockchain-based smart contracts. According to a working paper published on Thursday, the Commission has already done an initial research on the …

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South Korea’s National Assembly is reportedly set to witness a whirlwind of legislative efforts around cryptocurrencies in the coming days. Between July 13 and 26, members of a number of Korean political parties are expected to submit bills focused on regulating cryptocurrencies, initial coin offerings and blockchain, according to a report from The Korea Times. Among …

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Romania has drafted an emergency ordinance for ICO issuers, a local news outlet reported Thursday. The draft, which was released by the Romanian Ministry of Finance, states that groups hoping to launch token sales must have their tax and legal records verified. Following that, each member of the issuing organization is required to be approved …

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India’s highest court has declined to end a ban enacted by the national central bank that bars the country’s crypto exchanges from doing business with regulated financial firms. Bloomberg reported Tuesday that the Indian Supreme Court, led by Chief Justice Dipak Misra, said that the Reserve Bank of India’s (RBI) prohibition on providing services to crypto-related …

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A court in China’s Hangzhou city has ruled that evidence authenticated with blockchain technology can be presented in legal disputes. Based on the official judgement provided by a law firm that represents the plaintiff, the Hangzhou Internet Court decided that the use of blockchain technology in evidence deposition can be legally viable on a case-by-case …

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A South Korean police department has said it will bring charges against cryptocurrency exchange Coinone over its provision of margin trading, a report says. According to a Yonhap report Wednesday, the cybercrime investigation unit of the country’s southern provincial police department alleged that Coinone’s crypto margin trading is, in effect, offering illegal gambling that could be used …

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A city court in St. Petersburg, Russia, has overturned a decision made by a district court in 2016 that effectively blocked cryptocurrency media site bitcoininfo.ru for the country’s inhabitants. The decision came about after the court received an order from Russia’s Supreme Court in April to review the case, as previously reported by CoinDesk. “The …

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