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The Reserve Bank on India (RBI) on Wednesday filed an affidavit in the Supreme Court to clarify its stand on cryptocurrencies like Bitcoin. The central bank reserved its views on the legality of cryptocurrencies in India, telling the apex court that the constitution has not defined any legal system for virtual currencies. Citing the provisions
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Internet courts in China will henceforth deem evidence authenticated using blockchain technology as being legally binding. This follows the publication of new rules by the Supreme People’s Court of China which state that blockchain records will now be admissible in court. According to the South China Morning Post, internet courts which have been set up
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While expectations and fears are mounting on an imminent Supreme Court decision about the regulator’s ban concerning cryptocurrency trade in India, the big day may not exactly be a defining one for the future of bitcoin in the country. Other questions and bypass-routes will snowball (or hairball) no matter which way the ruling swings. Crypto exchanges have smelt a lot in this run-up to the hearing.
Also Read: Indian regulators curious to study experiences of other regions
The lawyer for the alleged BTC-e exchange operator, Alexander Vinnik, claims that the Greek supreme court has decided to extradite him back to his motherland. If true, this would be a significant blow to US authorities’ attempts to get their hands on Vinnik and extract information from him about Russian hackers.
Also Read: The Daily: Luxury Car Dealership Accepts Bitcoin, Basketballers to Earn Crypto
A US Federal Court in California has allowed a defendant to pay his bail fees in Bitcoin, local news media reported August 15 in what sources say is not a first-time use case for the cryptocurrency.
According to Palo Alto-based Daily Post, this week a federal judge allowed Martin Marsich, who faced charges of hacking into a local video game company, to pay his $ 750,000 bail in “Bitcoin or any cryptocurrency.”
Ripple Labs, the team behind Ripple and of course, XRP have made way in their legal battle after reports suggest they have won one of the court cases that is currently forcing Ripple and XRP into a temporary hibernation. As it stands, Ripple are facing a number of lawsuits for dealing XRP as an unregistered security, although as it stands, XRP is not legally classed as a security, the distinction is difficult to make and thus, the legal proceedings are taking a little while to materialise.
Continue reading Victory For XRP As Ripple Win First Court Case at Crypto Daily™.
A Russian court has ruled for the first time that a local newspaper must pay a fine of 50,000 rubles ($ 760) after it ran a cryptocurrency mining advertisement.
As local news outlet Interfax reports August 8, the Eleventh Arbitration Court of Appeal (ACA) found the publication Edinstvo Nizhnekamsk, which circulates in the Republic of Tatarstan, in breach of advertising regulations.
The case came to court via the Federal Anti-Monopoly Service and a local branch of a subdivision of Russia’s Central Bank.
India’s central bank told the country’s supreme court on Friday that “allowing dealings in cryptocurrencies like bitcoin would encourage illegal transactions.” Other crypto petitions being heard include one asking the government to “take emergency steps to restrain the sale and purchase of illegal cryptocurrencies.”
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
The Reserve Bank of India (RBI), the country’s central bank, appeared before the supreme court Friday to defend its position regarding cryptocurrencies. RBI issued a circular on April 6 banning financial institutions under its control from providing services to crypto companies.
The Indian Supreme Court has adjourned its hearing of the petition against the Reserve Bank of India (RBI) ban on banks facilitating cryptocurrency transactions. The apex court will deliver its final judgment on the matter on September 11, 2018.
Indian cryptocurrency traders still have a fair bit of waiting to do before knowing the fate of the market in the country. According to a series of tweets by Crypto Kanoon, a team of lawyers engaged in the virtual currency market, the nation’s apex court today (July 20, 2018), adjourned a hearing on the petition filed against the RBI ban to September 11, 2018.
In an ongoing dispute between banks and cryptocurrency exchanges in Chile, an appeals court has finally ruled in favor of one crypto exchange against one of the largest banks in the country. Five major banks have also separately responded to lawsuits against them in court.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
The Fourth Chamber of the Court of Appeals of Santiago has ruled in favor of cryptocurrency exchange Orionx against Banco Estado for closing its account, local media reported. The ruling, which orders the only government-owned bank in Chile to reopen the exchange’s account, was published on Thursday.
Chinese courts have recognized Blockchain-based evidence as suitable for use in legal proceedings in a landmark case commentators are saying “has huge implications.”
A judgement from the Internet Court of Hangzhou translated on social media by Messari head of business development Katherine Wu June 29 confirmed a defendant had used Blockchain to prove innocence.
“This court is of the opinion that when the issue at hand involves blockchain technology, an open and neutral attitude must be adopted,” the judgement then ruled.
On June 28, 2018, the US Supreme Court revealed it would not re-evaluate Ross Ulbricht’s court case and double life sentence tied to his charges of operating the Silk Road marketplace. Ulbricht’s legal team and family were hoping the recent Carpenter Vs. US Supreme Court case would spur court officials to reconsider Ulbricht’s conviction. However, Supreme Court officials didn’t see eye to eye with this reasoning and denied Ulbricht’s cert petition.
Also read: Troll Slayer: Derek Magill Defends Peer-to-Peer Electronic Cash Against Defamation
The Supreme Court announced on June 28, 2018, that it will not reconsider the conviction or life sentence of Ross Ulbricht, the alleged mastermind behind the darknet site Silk Road. At press time, no reason has been provided for the Court’s decision.
Ulbricht was first arrested in October 2013 at the Glen Park Branch Library in San Francisco. During his trial, prosecutors stated that, at the time, he was speaking online with an undercover FBI agent while running the site through an open laptop under the name “Dread Pirate Roberts.” Among the evidence collected from Ulbricht’s computer were chat logs, journal entries and spreadsheets pertaining to Silk Road financial data between the years 2011 and 2013.
Ethereum co-founder Vitalik Buterin has openly criticized Blockchain research company nChain’s latest patent award, calling for opponents to challenge it in court.
nChain, whose chief scientist Craig Wright claims to be Bitcoin creator Satoshi Nakamoto while heavily endorsing altcoin Bitcoin Cash, received its latest European patent for what it describes as a “digital security invention.”
“This Deterministic Key Generation technique provides for improved secure communication between a pair of nodes or parties on a network, while being able to keep their private keys secret,” a press release issued June 25 claims.
A Russian cryptocurrency miner got into trouble with the customs office when trying to import mining equipment purchased online for personal use. After an appeal, the court sided with the customs office and barred the import of the mining equipment.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
The Russian city court in Tobolsk has “banned the import of equipment for the mining of cryptocurrency,” local media reported last week. Tobolsk is a town in Tyumen Oblast, Russia. The ban, which has already entered into force, applies to a local crypto miner who tried to import mining equipment for his own personal use.
A Russian court has overturned a previous court decision to block a bitcoin-related website because it contains information about cryptocurrencies. The Supreme Court ordered the city court to hear the appeal.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
The St. Petersburg City Court has overturned the ruling of the Vyborgsky District Court of St. Petersburg to block the Bitcoininfo.ru website in Russia.
“The St. Petersburg City Court quashed the decision of the district court to recognize the information posted on the Bitcoininfo.ru website,” Tass reported the city court explaining on Monday, June 4.
South Korea’s Supreme Court just ruled that bitcoin is a legally recognizable asset. The landmark ruling occurred on May 30, 2018, and it overturns a decision made by one of the country’s lower courts in a case dating back to last year.
In September 2017, the Suwon District Court charged 33-year-old Ahn with the sale and distribution of child pornography. Operating a website since 2013, Ahn was arrested in May of 2017 for disseminating some 235,000 obscene files. Even though the court handed Ahn a guilty verdict and 18 months in prison for his actions, it did not confiscate the 216 bitcoins Ahn accumulated in exchange for the porn.
The High Court of Zimbabwe has lifted a ban on cryptocurrencies in the Southern African country. This follows a lawsuit that was filed by a local cryptocurrency exchange which argued that the Reserve Bank of Zimbabwe did not have any authority to declare cryptocurrencies illegal.
On the 12th of May, Zimbabwe’s financial services regulator, the Reserve Bank of Zimbabwe (RBZ), issued a directive to all financial institutions to stop all forms of transactions related to cryptocurrencies and to wind down all accounts tied to cryptocurrencies within 60 days. This was followed a few days later by an order to all cryptocurrency exchanges in the country to shut down their operations.
A US federal court has indicted three founders of a company purported to offer cryptocurrency-related financial products and have raised $ 25 million in an initial coin offering. In addition to claiming to have licenses in 38 states, the company also claimed partnerships with Bancorp, Visa, and Mastercard to issue its own cards.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
The US Department of Justice (DOJ) announced on Monday that the founders of a cryptocurrency-related company have been indicted in the Manhattan federal court.
The Indian Supreme Court has struck out an interim injunction against the crypto ban of the Reserve Bank of India (RBI). The RBI banned banks and other financial institutions from facilitating cryptocurrency trades in the country. In response, a coalition of petitioners, comprised of four crypto exchange platforms and other startups, have gone to court, challenging the RBI’s directive.
The decision by the Supreme Court is the not the end of the matter as the case will be heard on May 17th. According to Crypto Kanoon, the court’s only decision was to decline the interim injunction request. Crypto Kanoon is an Indian legal platform that focuses on the cryptocurrency market.
