By CCN Markets: Florida judge Bruce Reinhart sealed the list of bitcoin holdings that self-proclaimed “Satoshi Nakamoto” Craig Wright was compelled to submit on June 17 pursuant to an order he issued last week. Unfortunately for curious followers of this bizarre legal drama, this means that the crypto-sphere will have to wait a little longer before they can see proof of Wright’s claims that he’s the inventor of bitcoin. Judge Directed Craig Wright to Show Proof As CCN reported, Judge Reinhart ordered Wright to produce a list of all the bitcoin he mined prior to Dec. 31, 2013. Reinhart made
Craig Wright, the notorious Satoshi Nakamoto claimant, must appear in court on Monday or be held in contempt. The Florida court granted a motion to compel on June 14, mandating Wright to provide a list of all the bitcoin addresses he’s owned prior to December 2013.
Two law firms have been appointed to represent the clients of insolvent Canadian crypto exchange Quadrigacx in court. The number of affected users has been estimated at approximately 115,000 and lawyers will have to contact as many as they can. The digital asset trading platform owes them approximately $ 190 million.
Miller Thomson, Cox & Palmer to Reach Affected Users
Nova Scotia Supreme Court Justice Michael Wood issued a decision on Tuesday, Feb. 19, announcing the appointment of Toronto-based Miller Thomson and Cox & Palmer from Halifax as representatives of Quadrigacx’s clients. Both firms have extensive experience with insolvency cases, Wood said, quoted by the Canadian Press. He added that Miller Thomson has cryptocurrency-related expertise as well.
Justice Wood has appointed legal counsel to represent some 115,000 creditors in incipient legal proceedings against seemingly insolvent cryptocurrency exchange QuadrigaCX, documents published today, February 19, 2019, from the Halifax, Nova Scotia court reveal.
After postponing his decision, in a hearing on February 14, 2019, to choose one of four legal teams vying to represent affected users, Wood has given the bid to Miller Thompson and Cox & Palmer, a joint-counsel of two firms that collectively have logged “extensive insolvency experience.” Included with this experience, the firms have a useful understanding of the Canadian Creditors Arrangement Act (CCAA), a law that applies to insolvency cases of $ 5 million CAD or more. Wood was also impressed with the complementary expertise the two firms represent and the synergy they employed to exploit their expertise efficiently on behalf of their clients.
A group of lawyers from some of Canada’s top law firms convened in a court in Halifax, Nova Scotia, today to secure the right to represent creditors in the ongoing QuadrigaCX litigation. By the end of the hearing, the presiding judge wouldn’t make a decision on which firm would play counsel for QuadrigaCX’s clients, though he promised a decision within the week.
Sears Chairman and ESL Investments founder Eddie Lampert will have one more chance to rescue the iconic retail chain from liquidation, a judge ruled on Tuesday. As CCN reported, The 126-year-old retailer had hoped to receive approval from a bankruptcy judge to proceed with liquidation after advisers rejected a $ 4.4 billion takeover bid from Lampert
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A motion by the self-declared creator of Bitcoin and the chief scientist at blockchain firm nChain, Craig Wright, to have a multi-billion dollar lawsuit accusing him of stealing bitcoins belonging to an alleged business partner dismissed has been denied. Wright Loses Bid to Dismiss Lawsuit over Alleged Bitcoin Theft In a ruling delivered on Thursday
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The last week of November was all about taxes, regulation, and SEC enforcement for Bitcoin and the wider crypto ecosystem. Major Headlines Sirin Labs Launches the FINNEY: The world’s first blockchain phone on the market, the FINNEY, launched at an event in Barcelona on Thursday. CCN’s Josiah Wilmoth was on the scene. The phone, its
The post This Week in Crypto: Ohio Embraces Bitcoin, Judge Hassles SEC, and DJ Khaled Fined for ICO Promotion appeared first on CCN
A new development has arisen in the U.S. Securities and Exchange Commission’s (SEC) efforts to regulate ICOs: a District Judge has turned back a request for an injunction.
According to a recent legal briefing, San Diego District Judge Gonzalo Curiel has been presiding over a case between the SEC and the startup company Blockvest. On November 27, 2018, although Judge Curiel had previously “granted the SEC’s ex parte request for a temporary restraining order and froze the assets involved in the ICO,” he has now stated that the SEC couldn’t demonstrate that buyers of Blockvest’s ICO expected to receive a profit.
In a short-term win for bitcoin advocate Charlie Shrem, a federal judge has lifted the freeze on Shrem’s financial accounts in an ongoing legal battle against the Winklevoss twins.
Shrem’s financial accounts and assets were temporarily frozen via an attachment order following the suit’s initial filing. The order allowed the U.S. Marshall for the Southern District to freeze Shrem’s assets, instructing cryptocurrency companies like Coinbase and Xapo and legacy financial institutions to freeze Shrem’s assets up to $ 30 million, the amount the Winklevosses are seeking in damages.
In recent regulatory news, a report by the Center for Public Integrity has explored the potential for cryptocurrency donations to obfuscate politicians’ sources of funding, a U.S. judge has urged the Malaysian public to exercise due diligence when considering seeking exposure to cryptocurrencies, and a report conducted by IBM Blockchain and the Official Monetary and Financial Institutions Forum (OMFIF) has found that central banks are unlikely to adopt national cryptocurrencies in the near term.
The judge presiding over a class action lawsuit against Coinbase over allegations of insider trading has approved Coinbase’s motion to dismiss the suit.
In March of 2018, Jeffrey Berk filed a class action lawsuit in the Northern District of California on behalf of himself and other investors against Coinbase. Specifically, the suit alleges that Coinbase had engaged in insider trading by alerting its own employees that Coinbase would fully support Bitcoin Cash at a later date, after publicly stating that they would not.
A Canadian bitcoin ATM firm which was sued by a victim of fraud can finally breathe a sigh of relief after a judge ruled that the firm was not liable for the losses incurred. The victim, a woman whose name was withheld, had sued Instacoin ATM Canada to get back the C$ 62,500 she sent using
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In a landmark case for the cryptocurrency industry, a federal judge has ruled that a cryptocurrency caught in the midst of a lawsuit is a commodity, court documents reveal.
U.S. District Judge for Massachusetts Rya Zobel has decided that the suit’s prosecuting party — the Commodity Futures Trading Commission (CFTC) — can proceed with its case against My Big Coin Pay Inc. as its cryptocurrency My Big Coin (MBC) does not fall into the category of a security.
A U.S. judge has sided with the Commodity and Futures Trading Commission in a cryptocurrency fraud lawsuit, ruling bitcoin is a commodity.
Does a decades-old securities law apply to an initial coin offering (ICO)? In a case that represents the first time securities laws have been applied to cryptocurrencies, a district judge says it may.
On September 11, 2018, in a district courthouse in Brooklyn, New York, Judge Raymond Dearie ruled that two ICOs were securities, based on established laws that govern the financial instruments. His decision does not imply that all ICOs are securities, but that simply calling a token a “currency” does not preclude it from being classified as a security.
Since its implosion back in 2014, the Mt. Gox exchange hacks continue to loom large within the cryptocurrency ecosystem. The U.S. District Court for the Eastern District of Pennsylvania determined recently it does not have jurisdiction in a case involving Gox victims and a bank closely associated, in effect condemning victims to redress their grievances at the scene of the crime, Tokyo, Japan.
Also read: Philippines Okays PDAX Crypto Exchange
On Tuesday, U.S. District Judge Raymond Dearie in Brooklyn, New York said that U.S. federal securities laws may cover initial coin offerings (ICOs), per Bloomberg report. This week’s ruling enhances the regulatory framework that governs cryptocurrencies by leveraging existing rules that already regulate the U.S. stock market.
The New York case involves a Brooklyn businessman, Maksim Zaslavskiy, who promoted digital currencies that he claimed were backed by investments in real estate and diamonds.
Initial coin offerings (ICOs) may soon come under added pressure from government regulators in the United States following a recent ruling that classified two fraudulent ICOs as security sales. According to a breaking report by Bloomberg, U.S. District Judge Raymond Dearie in Brooklyn, New York, ruled that two ICOs conducted by Brooklyn resident Maksim Zaslavskiy would be classified as […]
A U.S. District Judge in Brooklyn has delivered a landmark judgement with far-reaching implications for the initial coin offering (ICO) market. Judge Raymond Dearie of the U.S. District Court Eastern District of New York today ruled that U.S. securities laws cover ICO token sales. The ruling came in a case against a fraudulent ICO promoter
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