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Legal


Martin Lewis, a British personal finance guru, is suing Facebook for allowing scammers, including some promoting cryptocurrency schemes, to use his likeness in advertisements on the platform. Lewis is the founder of the MoneySavingExpert blog, and his name and face well known following his years of writing and many TV appearances. In a post to …

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A group of licensed cryptocurrency exchanges in Japan is looking to restore market confidence by adopting self-imposed rules. According to the Japanese news outlet Asahi Shimbun Tuesday, 16 exchanges that are currently registered with Japan’s Financial Services Agency (FSA) have formally launched a new self-regulatory organization dubbed the Japanese Cryptocurrency Exchange Association. Taizen Okuyama, president and CEO …

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Regulation: It’s good for you, but it’s going to hurt. That seemed to be the main takeaway for the cryptocurrency industry from Monday’s Business of Blockchain conference at the Massachusetts Institute of Technology (MIT). On the one hand, the event was clouded by speculation that the U.S. Securities and Exchange Commission (SEC) may go as …

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Yet another high-ranking police official in the Indian state of Gujurat has been taken into custody in connection with a $1 million bitcoin extortion scheme. According to the Hindustan Times, Amreli police superintendent Jagdish Patel was arrested Sunday on suspicion that he helped a group of police officers detain a local resident after which he …

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California could become the next U.S. state that allows companies to store data – including information about stockholders – on a blockchain. Bill 838 was first introduced by Senator Robert Hertzberg in January, but public filings show that the measure has picked up steam in recent days. The State Senate’s Banking and Financial Institutions Committee referred the …

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The CEO of Monex Group, Japan’s third-largest online brokerage, thinks Japan’s cryptocurrency exchanges – including the one his firm recently decided to buy – should be regulated more strictly. “Japan’s exchanges do both matching and custodial services – they’re close to a bank,” Oki Matsumoto told Reuters in an interview published Friday. “To someone in …

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In the Lord of the Rings trilogy, “mithril” is a rare, indestructible metal whose beauty never tarnishes; in the real world, however, it’s the name of three different blockchain projects, all of which are trying to score pop culture points with investors. It’s of little surprise that the name has proven so hot in the …

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The Supreme Court of Russia has directed a court in the city of St. Petersburg to consider an appeal against a blocked cryptocurrency information website. According to Russian legal information site RAPSI, the Vyborgsky District Court of St. Petersburg blocked Bitcoininfo.ru in 2016, claiming that cryptocurrencies are “a means of virtual payment and accumulation,” and …

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The Department of Justice has unveiled fraud charges against another co-founder of cryptocurrency startup Centra, a move that comes weeks after two other founders were arrested and charged. The U.S. Attorney’s Office for the Southern District of New York said Friday that Ray Trapani has been arrested and charged in connection with the company’s token …

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Taiwan aims to formally regulate bitcoin under anti-money laundering (AML) rules before the end of the year. According to the Taiwan Central News Agency, Chiu Tai-san, the country’s minister of justice, said at an anti-money laundering event on Friday that the nation aims to have the legal framework ready before a visit to Taiwan by the Asia …

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Xunlei, the NYSE-listed cloud network provider, has launched its proprietary blockchain platform, despite ongoing class actions over an alleged initial coin offering (ICO). At a press event in Beijing on Friday, the company announced its open blockchain protocol dubbed ThunderChain, which is designed to enable developers to build decentralization applications. Based on the practical Byzantine …

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The co-founder of Tezos, the cryptocurrency project that made headlines with its $232 million initial coin offering last year, has received a sanction order from a U.S. financial regulator. According to a report by Reuters, the Financial Industry Regulatory Authority (FINRA) prohibited Arthur Breitman from association with broker-dealers for two years and handed him a …

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Two men from South Korea have been sentenced for creating a bitcoin pyramid scheme that swindled some 20 billion Korean won ($20 million) from investors. On April 19, a judge from Seoul’s Incheon District Court issued fines of $15 million and $8 million, respectively, to the two fraudsters, according to local news source Yonhap. The report said …

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Two suspects from South Korea have allegedly used a pyramid scheme that involves bitcoin to swindle a total of $20 billion from investors in the country. The news was made public as a judge from Seoul’s Incheon District Court has issued a fine of $15 million and $8 million respectively to the two men on …

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Trust, but verify. Borrowed from a Russian writer, it’s one of crypto’s most widely embraced slogans, though one that’s becoming even more relevant on social media, where battling factions bent on promoting the next great high-tech investment are now turning the very symbols meant to protect users against them. Whether it’s an account impersonating the world’s largest …

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Major crypto industry investors Andreessen Horowitz and Union Square Ventures reportedly held a private meeting with U.S. Securities and Exchange Commission (SEC) officials to discuss the exemption of blockchain-based tokens from the agency’s oversight. The Silicon Valley-based venture capital firms and their special counsel met with senior officials from the SEC’s Division of Corporate Finance …

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Initial coin offerings (ICOs) raised more money in the first three months of 2018 than the whole of 2017, according to data collected by CoinDesk. At $6.3 billion, ICO funding in the first quarter is now 118 percent of the total for 2017, a figure that might go a long way toward undermining a common …

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Cryptocurrency miners in South Korea may find it to be more difficult in getting foreign-made mining chips imported to the country. According to data published by the Korean Customs Service (KCS) Wednesday, the government agency has added cryptocurrency mining chips into the current list for items that are mandated to meet certain requirement set by …

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San Francisco-based cryptocurrency exchange Kraken isn’t planning to respond to the New York Attorney General’s newly-unveiled inquiry into the ecosystem. Kraken was one of 13 exchanges that received a letter from New York Attorney General Eric Schneiderman on Tuesday as part of his new inquiry into cryptocurrency exchanges, as previously reported. While most exchanges generally …

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The alleged thief behind Iceland’s “Big Bitcoin Heist” has escaped from prison and escaped to Sweden. Sindri Thor Stefansson, who is accused of stealing 600 cryptocurrency mining computers across at least four separate incidents between December 2017 and January 2018, allegedly flew to Sweden on a flight with Iceland’s prime minister, according to a report from …

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