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John McAfee, cryptocurrency enthusiast, presidential aspirant, and millionaire founder of the near-ubiquitous McAfee Antivirus, has been found legally liable for the death of his former neighbor, Gregory Faull, who was found dead with a gunshot wound to his head back in 2012, the Register reports. The final verdict was reached in a US district court in
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This week, the Ripple Labs legal team removed a pending securities lawsuit pertaining to the regulatory nature of XRP, the native cryptocurrency of the Ripple blockchain, to federal court. The representatives of Ripple argued that the class action lawsuit was initiated by a group of investors with no geographical limitations and as such, the case
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Venezuela’s Supreme Tribunal of Justice has ordered a compensation payment of 266 petros, the country’s national cryptocurrency, in a workplace injury case. Meanwhile, the Venezuelan government has launched the petro savings plan, backed by 4 million of the digital currency.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
The Supreme Tribunal of Justice of Venezuela (TSJ) has ordered moral damage compensation in a workplace injury case to be paid in petros or the equivalent, local media reported on Friday. The TSJ is the country’s highest court of law and the head of the judicial branch.
A court in South Korea has ruled that the decision by a commercial bank to stop offering banking services to a cryptocurrency exchange was unlawful and must therefore be rescinded. According to the Central District Court’s 50th Civil Affairs Division, the move by South Korean commercial bank Nonghyup to cease offering deposit and withdrawal services
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A South Korean district court has ruled that Nonghyup Bank, a major bank in the country, cannot block transactions to the account of cryptocurrency exchange Coinis based solely on the government’s anti-money laundering guidelines. This is reportedly the first time a Korean crypto exchange has taken legal action against a bank for blocking its transactions.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
The 50th Civil Affairs Division of the Seoul Central District Court has ruled in favor of cryptocurrency exchange Coinis against Nonghyup Bank, local media reported.
The Chinese Shenzhen Court of International Arbitration made a stunning ruling on Thursday, confirming that the transfer of Bitcoin (BTC) and other cryptocurrency is protected by law. This ruling, which was made on a share transfer dispute and does not equate to a legal precedent, recognized digital assets as a form of property, confirming that merchants […]
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A case involving almost half a million dollars in cryptocurrency led to an important new precedent in China. A high Chinese court, the Court of International Arbitration, ruled that Bitcoin and other cryptocurrencies are valuable personal property and are therefore protected under existing Chinese law. The court also stated that there is no law on
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The Shenzhen Court of International Arbitration (SCIA) has recently affirmed that cryptocurrencies, specifically bitcoin and several of its hard forks, are considered legal property and Chinese citizens have a right to own and transfer them.
The SCIA recently published an analysis of a contract dispute over WeChat, describing the legal proceedings of a case in which one individual managed nearly $ 500,000 worth of crypto assets on behalf of another private individual. The manager then refused to return these assets after their client dealt with a third party.
Following a rumour by CNBC Trader Ran Neuner saying that Coinbase will soon be revealing its initial public offering, the US-based digital currency received some positive news in relation to last year’s accusation over insider trading.
In August last year, Bitcoin Cash made its official hard fork from the original Bitcoin source code. For investors who kept their coins on exchanges such as Coinbase, the airdrop of forked coins wasn’t initially made available. However, Coinbase promised investors that Bitcoin Cash would be supported by the exchange by the end of 2018. This included the coins they were due at the time of the fork too. However, Coinbase didn’t mention any specific date for adding the currency to the exchange for the reasons surrounding them for adding new currencies.
The Shenzhen Court of International Arbitration recently issued a ruling saying there is no prohibition against Bitcoin ownership and transfer in China. The decision means that despite the ban on ICOs and virtual currency trading, Bitcoin and other cryptocurrencies are legally regarded as property in the country.
The court issued the ruling in a case brought before it featuring a dispute over a contract involving the transfer of cryptocurrencies. According to the details of the case, the plaintiff and the defendant entered into an agreement where the latter individual managed a cryptocurrency portfolio on behalf of the former.
India’s Supreme Court, the country’s apex court, has directed the central government to present its official stance on cryptocurrency within two weeks. In a telling move that seeks to end the ambiguity over the legality of cryptocurrencies like bitcoin in India, the government has been ordered to release its report on the cryptocurrency sector by
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India’s supreme court has brought up the case against the cryptocurrency banking ban by the Reserve Bank of India after one-and-a-half months of delay. The court has reportedly asked the government to submit a report of the findings from the committee it had set up to understand the crypto space and recommend regulatory measures.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
The Supreme Court of India originally planned to hear the petitions against the cryptocurrency banking ban imposed by the country’s central bank, the Reserve Bank of India (RBI), on Sept. 11. After repeatedly postponing the case, the court finally brought it up on Thursday, Oct. 25.
Until recently, Germany’s Federal Financial Supervisory Authority (BaFin) classified bitcoin as a financial instrument, but a subsequent court ruling disclaimed this categorization and decided that the cryptocurrency does not meet this definition under the terms of the German Banking Act (KWG). Bitcoin Unrecognizable to German Legal Framework The Berlin Court of Appeal in September dismissed
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A U.S. Federal Court recently indicted Gelfman Blueprint Inc. (GBI) and its CEO Nicholas Gelfman to the tune of $ 2.5 million for running a Bitcoin Ponzi scheme. The matter is the first ever anti-fraud proceedings concerning Bitcoin taken up by the Commodity Futures Trading Commission (CFTC).
According to a CFTC press release published on Thursday (October 18, 2018), the defendants – GBI and Gelfman, will pay about $ 2.5 million in restitution and civil monetary penalties to the affected victims. Out of that sum, $ 554,734.48 and $ 492,064.53 is for restitution, while $ 1,854,000 and $ 177,501 is for civil monetary penalties.
A French court has reportedly rejected a request by the largest Swiss bank to drop money laundering charge against it. UBS Group and a number of its executives are accused of tax fraud and money laundering. If found guilty, the bank could be fined up to 5 billion euros or $ 5.8 billion. Its executives could also face jail time.
Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals
The tax fraud and money laundering trial in France of UBS Group AG and its executives began last week after seven years of investigation.
The U.S. Securities and Exchange Commission (SEC) has obtained an emergency court order issuing the stoppage of a recently planned initial coin offering (ICO) by Blockvest LLC and its founder Reginald Buddy Ringgold III, who falsely advertised that the token sale was approved by the SEC.
According to the SEC, Blockvest has repeatedly violated both anti-fraud and securities registration provisions by incorrectly claiming that its ICO had obtained regulatory approval from Commission officials. The order further states that Ringgold — who also works under the name Rasool Abdul Rahim El — was using the SEC seal without the organization’s permission.
The Supreme Court of British Columbia has issued a major ruling in a case stemming from a dispute over ethereum (ETH) tokens mistakenly sent to an initial coin offering (ICO) investor, and it could have implications for cryptocurrency users or exchanges outside of the litigants involved in the case. The ruling, which was issued by
The post Court Authorizes Cryptocurrency Firm to Reclaim 530 ETH Sent to Wrong Address appeared first on CCN
Cryptocurrencies are commodities, according to four court cases involving the U.S. Commodity Futures Trading Commission (CFTC). A federal judge recently ruled that a token is a commodity, certifying the CFTC’s authority to prosecute fraud and manipulation in the crypto space. In her ruling, the judge cited three other crypto-related cases that arrive at the same conclusion.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
A US court has formally dismissed an attempt to stop the country’s commodities regulator prosecuting an alleged cryptocurrency fraudster, ruling that such assets are commodities.
In a press release October 3, Senior Judge Rya W. Zobel of the U.S. District Court for the District of Massachusetts ruled in favor of the Commodity Futures Trading Commission (CFTC) in a case involving now-defunct cryptocurrency My Big Coin.
Part of an ongoing legal battle, lawyers for My Big Coin attempted to halt prosecution for misleading claims about its nature by claiming the CFTC had no jurisdiction over virtual currency.
A U.S. district court on Wednesday gave leave to the U.S. Commodity Futures Trading Commission (CFTC) to proceed with the lawsuit against Nevada-based My Big Coin Pay Inc. who had allegedly been operating a $ 6 million fraud, per the court’s Memorandum of Decision. The federal judge who presided over the case affirmed that the cryptocurrency in question
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