Posts in category

Law


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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Vermont’s governor has signed a bill allowing for the creation of so-called “blockchain-based limited liability companies,” public records show. CoinDesk reported in January that state lawmakers were weighing the measure, which at the time referred to “digital currency limited liability companies” and contained language indicating that such businesses – effectively running on a distributed blockchain …

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The South Korean government is moving to confiscate 191 bitcoins seized in a child-porn cybercrime case in which the perpetrator has now been sentenced to jail and a $640,000 fine. According to Korean news agency Yonhap, the move comes after South Korea’s Supreme Court ruled on Wednesday that cryptocurrencies can be seen as property with …

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Blockchain technology is shaking up the legal industry. At least that’s according to prominent blockchain industry attorneys, Angela Angelovska-Wilson and Lewis Cohen, who revealed exclusively to CoinDesk Friday that they have started their own law practice focused on the nascent industry. Called DLx Law LLP, the firm opened its doors this month, with offices in …

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Primavera De Filippi is a permanent researcher at the CERSA/CNRS/Université Paris II, a faculty associate at the Berkman-Klein Center for Internet & Society at Harvard Law School, the “alchemist” for DAOstack and a co-author of “Blockchain and the Law.” A blockchain network is a complex system that involves a variety of actors that cannot be trusted. Its …

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Risky and rational. That about sums up the state of U.S. token sales in the wake of new dialogue on whether the mechanism, by which startups are issuing custom cryptocurrencies to raise funds, is compliant with the law. Lost in the dialogue, however, has been that there are many more specific types of token sales. …

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Though fraud is undoubtedly an issue in the cryptocurrency ecosystem, U.S. Congressman Patrick McHenry believes lawmakers shouldn’t rush to impose new regulations. “It’s my fear that Congress and other policymakers get wrapped up in the hype of bitcoin and feel like doing something – anything – is better than nothing,” he told CoinDesk in an …

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The Bermuda Monetary Authority (BMA) is seeking public feedback on an anti-money laundering act that would capture cryptocurrencies. In a newly released consultation paper published Thursday, the Caribbean financial regulator said it is aiming to capture a wide range of cryptocurrency-related activities under the local law in a bid to prepare a more formal framework …

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Defendants from a cryptocurrency services company charged with fraud by the CFTC are pushing back against the the agency’s assertion that cryptocurrencies are commodities. In January, the CFTC charged My Big Coin Pay Inc, Randall Crater, Mark Gillespie and other associated parties with fraud and misappropriation of funds, alleging that they swindled more than $6 …

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Two cryptocurrency exchanges in Japan are reportedly set to cease operating amid growing regulatory scrutiny from regulators in the wake of a $500 million theft. According to Nikkei, two exchanges – Mr. Exchange and Tokyo GateWay – are withdrawing their applications to operate exchanges previously filed with Japan’s Financial Services Agency (FSA). No official statements …

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The Bitcoin Blockchain allows users to store and transmit files and information through transactions. It turns out somebody makes use of this non-primary option: a university study has made some startling discoveries on over 1600 files stored in the Bitcoin Blockchain. A collaborative study from Germany’s Goethe and Aachen Universities revealed eight files containing sexual …

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A proposed law that would put in place protections for operators of blockchain network nodes is inching closer toward passage, public records show. House Bill 2602, sponsored by Representative Jeff Weninger, received “do pass” recommendations from the State Senate Rules Committee and the Committee of the Whole last week, setting the measure up for a vote …

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A measure to bar public retirement funds from investing in cryptocurrencies is moving ahead in the Tennessee Senate. As previously reported, twin bills filed in January would block the trustees of public, post-retirement benefit funds from making such investments. On March 6, the Tennessee Senate Ways and Means Committee cleared the measure by a 10-0 …

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Legislators in Illinois are weighing a proposal to allow residents in the state to pay their taxes in cryptocurrency. With the move, Illinois joins a growing list of U.S. states that are considering such measures, and the bill – filed in February and previously unreported – marks the third effort of its kind to emerge …

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Lawmakers in Mexico have reportedly advanced a bill that was drafted to regulate fintech, including cryptocurrencies, in the country. According to Reuters, the bill was passed by Mexico’s Chamber of Deputies, the lower house of its legislature, on Thursday and currently is pending signature from Mexico’s President Enrique Pena Nieto before it goes into effect as …

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