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Bitcoin As Legal Tender: Arizona Senator Pushes Bill To Make Crypto Legal Form Of Currency

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In the past year, bitcoin’s price has declined by about 60% from its all-time high. This has diminished the excitement surrounding the alpha coin, but not entirely.

There are still many who have faith in the cryptocurrency’s future. One of them is Arizona state Sen. Wendy Rogers.

Rogers, a Republican, has presented legislation that would make bitcoin legal currency in Arizona and allow state agencies to accept it.

The law proposed on Wednesday would, if passed, make Arizona the first state in the United States to recognize bitcoin as a legal form of currency.  Read more...

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Arizona Senator Introduces Bill To Make Bitcoin Legal Tender In The State

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A bill introduced by Sen. Wendy Rogers reflects growing interest in bitcoin from U.S. states.

State Sen. Wendy Rogers (R-AZ) has introduced a set of bills aimed at making bitcoin legal tender in Arizona and allowing state agencies to accept bitcoin.

The proposed legislation aims to recognize bitcoin as a legal form of currency in Arizona, allowing it to be used to pay for debts, taxes and other financial obligations. This would mean that all transactions that are currently done in U.S. dollars could potentially be done with bitcoin, and individuals and businesses would have the option to use bitcoin as they see fit.  Read more...

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First Mover Americas: Legal Troubles Brewing at Digital Currency Group

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The latest price moves in bitcoin (BTC) and crypto markets in context for Jan. 3, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
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Fiji’s New Pro-Bitcoin Prime Minister Ponders Legal Tender Bill: Report

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Newly elected Fiji Prime Minister Sitiveni Rabuka is pro-Bitcoin and is reportedly considering pushing a bill to adopt BTC as legal tender in the country.

Pro-Bitcoin politician Sitiveni Rabuka recently took office as the new Prime Minister of the Pacific Islands of Fiji. Now, it seems the new PM is actively considering the adoption of bitcoin as legal tender there.

While Rabuka himself hasn’t been very public about his opinions on Bitcoin thus far, Lord Fusitu’a, a noble and former member of parliament of neighboring nation Tonga, has reportedly confirmed that the Fijian politician is a bitcoin bull.  Read more...

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Craig Wright Ordered To Pay Peter McCormack’s Legal Fees, Faces Contempt Of Court Hearing

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A judgment made in the U.K. found Wright breached an embargo and must pay McMormack’s legal fees.

A judgment in Peter McCormack’s current case against Craig Wright concluded that Wright must pay the court fees of McCormack on an indemnity basis, amongst other findings.

The conclusion of the trial also sets up an inquiry into Wright for contempt of court, with Justice Chamberlain of the Royal Courts of Justice writing, “I will issue a summons requiring Dr. Wright to attend a directions hearing before a judge nominated by the Judge in Charge of the Media and Communications List, who will give directions for the conduct of contempt proceedings in respect of breach of the embargo.”  Read more...

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Ripple: SEC Could Face ‘Bruising Defeat’ Against, Legal Experts Predict

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As Bitcoinist reported, the legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) is nearing its end in leaps and bounds. Both parties recently filed their motions for summary judgment after the end of the discovery phase.

The chances of the SEC winning the case have continued to shrink, according to various legal experts. Senior analyst at Forbes and senior vice president at Strand Consult, Roslyn Layton, said “signs” of a “bruising defeat” for the SEC are mounting.  Read more...

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Kazakhstan To Establish Legal Framework For Bitcoin, Crypto: Report

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The legislation seeks to establish clearer guidelines for mining, taxes and licensing for service providers such as exchanges in the region.

Kazakhstan plans to release a legal framework for the regulation of bitcoin and cryptocurrencies, per a report from Russian media outlet Tass.

“Deputies of the Majilis of the Parliament have developed a sectoral bill on digital assets of the Republic of Kazakhstan and four related bills as a legislative initiative,” said Ekaterina Smyshlyaeva, a member of the Committee on Economic Reform and Regional Development of the Mazhilis.  Read more...

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Blockchain investor Abraham Piha explains how Tornado Cash legal issues will affect the crypto market

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Things have not been looking too good for the crypto market in recent months, with the market seemingly being gripped by one piece of bad news after another. To this point, on Aug. 8, the United States Department of the Treasury’s Office of Foreign Assets Control issued legal sanctions against digital currency mixer Tornado Cash.

As per the regulatory body, since the platform’s inception in 2019, it has been used for a host of illicit money laundering activities estimated to be worth $ 7 billion. Of this sum, it is estimated that $ 455 million was controlled by the notorious Lazarus Group, a North Korean state-sponsored hacking group. Additionally, Tornado Cash was also used to launder over $ 96 million of ill-gotten funds derived from June’s Harmony Bridge hack and $ 7.8 million from this month’s Nomad heist.  Read more...

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Craig Wright Vs. Hodlonaut: A Timeline Of The Legal Battle

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A timeline of events leading to seven days in Norwegian court for BSV Founder Craig Wright and pseudonymous Bitcoiner Hodlonaut.

This is an opinion editorial by Elsa Waldorf.

On September 12, 2022, a seven-day trial will begin in Oslo, Norway between Craig Wright and the pseudonymous Bitcoiner, hodlonaut.

Wright’s name might be familiar to readers, as well as the “space cat” hodlonaut on Twitter. This article will provide an overview of why this case is important beyond the names involved. The team at Defending BTC, a community campaign to fundraise for legal fees, researched the case timeline to gather a play-by-play on the story so far and bring the reader up to speed on the details of the case.  Read more...

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Twitter To Pursue Legal Battle After Musk Terminates $44 Billion Deal

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Bret Taylor, the chairman of Twitter, announced that he intends to sue Elon Musk, founder and CEO of Tesla – one of the richest men in the world – in order to enforce the merger deal.

Taylor stated in a tweet on July 8:

The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.

Related Reading | Why Ethereum Is “Obviously A Security”, Says Bitcoin Bull Michael Saylor  Read more...

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Court Declares Bitcoin Legal in China as a ‘Virtual Property’

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China is not a bitcoin-friendly country as it has taken a slew of measures to kill the flagship cryptocurrency, which include imposing a blanket ban on all initial coin offerings (ICO) and shuttering crypto exchanges. But the latest order by Hangzhou Internet Court suggests that owning bitcoin is not illegal in China as it gave […]

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Bitfinex, Attorney General Legal Sparring Continues With New Court Filings

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Bitfinex and the New York Attorney General’s (NYAG) legal sparring in relation to $ 850 million in missing funds escalated with another round of court filings this past weekend.

The top exchange and New York’s principal legal advisor went back and forth with each other in two new letters submitted to the New York Supreme Court. Within the fresh filings, each a response to a previous filing by the other, the same ole song and dance.  Read more...

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Bitfinex Faces Legal Action From NY Attorney General: Here’s What This Means

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The New York Office of the Attorney General (AG) wants to take a closer look into the business operations of Bitfinex and related stablecoin issuer Tether (USDT). According to a legal petition filed with the Supreme Court of New York, the NY Attorney General Office of Letitia James is applying for a court order to investigate Bitfinex’s suite of interrelated companies (including its umbrella firm iFinex and Tether Holdings Limited) for “ongoing fraud” to the tune of $ 850 million.

What does the news mean for Bitfinex, Tether and Bitcoin?  Read more...

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Blockchain Advocacy Coalition Sponsors Bill to Allow Crypto for Legal Cannabis Tax

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Activist group Blockchain Advocacy Coalition (BAC) has sponsored a bill in California’s 19th State Assembly District, set to allow legal cannabis businesses in the district to pay their state taxes using cryptocurrency. The bill was proposed by Assemblymember Phil Ting on February 20, 2019.

If put into law, it would affect California's many cannabis businesses.

Logistical Barriers: Delivering Bags of Cash

One of the most prominent driving factors behind this bill, and where the decentralized nature of financial blockchain technology really has a chance to shine, is the fact that banks lack cooperation with these businesses. Citing a conflict with federal law, many financial institutions refuse to let cannabis businesses open bank accounts, thereby cutting off this multibillion-dollar industry from using digital money transfers.  Read more...

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Judge Delays Decision to Appoint Legal Counsel for QuadrigaCX Creditors

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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.  Read more...

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Canada’s First All-Crypto Legal Firm Opens Its Doors to Global Clientele

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Technology lawyer Addison Cameron-Huff launched his new, Toronto-based, all-crypto legal firm on January 3, 2019, Bitcoin’s 10th anniversary, as a statement of his commitment to working for and promoting Bitcoin and cryptocurrency-based businesses.

Cameron-Huff has worked as the lawyer for a Bitcoin core developer, several token-based companies, and dozens of crypto startups. As president of Decentral Inc., he managed a staff of 30 and helped to take the company to 750,000 monthly wallet users.

As the first, all-crypto legal services firm in Canada, Cameron-Huff expects the ongoing uncertainty around Canada’s cryptocurrency regulations to create some business for him, but he is also looking to build a global presence.  Read more...

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Huobi and Major Russian Bank to Provide Legal Help to the Crypto Industry

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The recently established Russian subsidiary of global cryptocurrency exchange Huobi and Vnesheconombank, Russia’s state-owned development bank, are now partnering to offer crypto companies legal support and advice. The newly created “legal lab” will also represent blockchain businesses in court.

Also read: German Startup Devises Eco-Friendly Energy-Efficient Miners

Legal Lab to Assist Crypto Companies in Russian Courts

Huobi, which is currently the third largest digital asset trading platform by daily volume, opened its office in Russia on Nov. 12. The branch provides 24-hour online support and has a Russian-language call center. The Huobi Russia online exchange officially launched on Dec. 6.  Read more...

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Legal Experts Conclude Bitcoin May Not Be Legally Possible to ‘Possess’

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In Bitcoin’s cryptographic design, the holder of the key (or keys in the case of multi-signature transactions), whoever holds the key to coins is the decision-maker when it comes to spending them. The fraudulent actions at Mt. Gox and other exchanges were ultimately due to this fact. People made deposits, essentially giving control of their

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