A Serbian and Italian national has been ordered to pay bail in cryptocurrency while he faces charges that he hacked the computer network of a San Francisco game company. According to a news release from the United States Attorney’s Office, an…
Tag: Legal
Tezos ICO Class Action Looms After Motion to Dismiss Denied
A federal court judge in California has blocked a move that sought to dismiss a class action lawsuit alleging that the initial coin offering (ICO) conducted by the Tezos Foundation violated securities laws in the U.S. The decision came Tuesday,…
Dubai Plans to ‘Disrupt’ Its Own Legal System with Blockchain
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…
A US Election Probe Implicated Bitcoin – And the Reaction Was Swift
Rod Rosenstein, the deputy attorney general of the U.S., sparked a social firestorm when he revealed that the dozen Russian military intelligence officers indicted on Friday used bitcoin to fund hacking efforts during the 2016 presidential election. As CoinDesk reported…
US Judge Delays Crypto Fraud Ruling Pending CFTC Response
A federal judge has postponed any decision on a crypto fraud case brought by the Commodity Futures Trading Commission (CFTC) against alleged scammer Patrick McDonnell. Judge Jack Weinstein of the Eastern District of New York wrote in a court order Thursday…
Bank of International Settlements to Publish New Crypto Research
The Bank of International Settlements (BIS) is dedicating two chapters of its forthcoming annual economic report to cryptocurrencies. BIS – considered to be the central bank’s central bank – will publish those two chapters this weekend on June 17, the…
Korean Banks Can Use Blockchain to Verify Customer IDs from July
A national banking group in South Korea is to roll out a blockchain-based ID verification system for domestic commercial banks in just weeks. According to a notice revealed on Monday by the Korea Federation of Banks (KFB), the new system…
Lithuania Issues Guidelines for When ICO Tokens Are Securities
Lithuania’s Ministry of Finance has issued guidelines on initial coin offerings (ICOs), outlining when cryptographic tokens would be viewed as securities and how each aspect of a token sale should be regulated by different laws in the country. According to…
South Africa’s Central Bank Claims Success in Blockchain Payment Trial
South Africa’s central bank has announced some pretty astonishing results for a trial of its blockchain-based system for interbank clearance and settlement. According to a statement released Tuesday, the South Africa Reserve Bank (SARB) said it has completed a 14-week “realistic” proof-of-concept that…
Russian Court Overturns 2016 Cryptocurrency Media Ban
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…