Legal Archives • Bitcoin Feed News

Coindesk / Tether to File Motion With NYAG to Dismiss Class Action Lawsuit

November 15, 2019 / coindesk

Tether has released a letter of intent saying that it plans to file a motion to dismiss the lawsuit that claims it manipulated the crypto market. The class action lawsuit…

Coindesk / OneCoin Founder’s Brother Faces 90-Year Jail Term After Plea Deal

November 14, 2019 / coindesk

The Department of Justice (DOJ) reached a plea deal with Konstantin Ignatov for his involvement in OneCoin Ltd., a cryptocurrency project based out of Bulgaria. Ignatov pleaded guilty to multiple…

Coindesk / Kik Suffers Setbacks With ‘Void for Vagueness’ Defense in SEC Case

November 13, 2019 / coindesk

Kik is struggling to mount a strong defense in a case brought by the U.S. Securities and Exchange Commission (SEC) over its $100 million initial coin offering. As reported last month,…

Coindesk / Telegram Refutes All SEC Allegations, Asks Court to Dismiss in New Filing

November 13, 2019 / coindesk

Messaging app firm Telegram has made a new plea to a U.S. court to drop an action brought by the Securities and Exchange Commission (SEC) alleging its yet-to-be launched token…

Coindesk / Tassat Is One Step Closer to Offering Crypto Derivatives With CFTC Approval

November 7, 2019 / coindesk

Tassat Derivatives has successfully acquired a swap execution facility (SEF) registration after securing regulator sign-off. The U.S. Commodity Futures Trading Commission (CFTC) announced Thursday that it had approved the transfer…

Coindesk / The SEC Has Rejected Every Bitcoin ETF. This Firm Thinks It Has a Solution

November 7, 2019 / coindesk

One company thinks it knows how to get a bitcoin exchange-traded fund (ETF) approved by U.S. regulators. Wilshire Phoenix, a relatively young financial firm in New York, filed to launch…

Coindesk / Zcash Trademark Talks Were About More Than a Logo

November 7, 2019 / coindesk

Electric Coin Company (ECC), the firm led by zcash creator Zooko Wilcox, officially shared the zcash trademark with the Zcash Foundation (ZF) on Wednesday. Sources with knowledge of the trademark…

Coindesk / ATM Coin Founders Ordered to Pay $4.25 Million for Fraud

November 5, 2019 / coindesk

In a U.S. Commodity Futures Trading Commission-led case, a court has fined another cryptocurrency investment scheme for fraud and misappropriating client funds. According to a CFTC news release from Friday,…

Coindesk / Investor Lawsuit Argues Ripple Still Has to Answer Over Ongoing XRP Sales

November 5, 2019 / coindesk

Ripple’s argument that an XRP holder waited too long to file suit has no precedent, a new legal filing claims. Bradley Sostack, the plaintiff in a putative class-action lawsuit, said Ripple’s…

Coindesk / What’s Next in the Securities Case Against Ripple Over XRP

November 4, 2019 / coindesk

The Takeaway: Monday is the deadline for an XRP holder to file a response to Ripple’s motion to dismiss his suit against the company. That motion largely sidestepped the plaintiff’s…

Coindesk / SEC, CFTC Charge XBT Corp. With Selling Unregistered Swaps for Bitcoin

October 31, 2019 / coindesk

U.S. regulators filed charges against XBT Corp. Thursday, alleging the company failed to register as a futures commission merchant (FCM). In simultaneous press releases, the Commodity Futures Trading Commission (CFTC)…

Coindesk / UK Banking Pilot Aims to Streamline Compliance Using Factom Blockchain

October 31, 2019 / coindesk

Crypto startup Knabu is piloting bank regulatory reporting with Factom, one of the earliest enterprise blockchain companies. Revealed exclusively to CoinDesk, the London-based firm is launching the 30-day pilot today.…

Coindesk / SEC Blasts Kik’s ‘Void for Vagueness’ Defense of 2017 ICO

October 29, 2019 / coindesk

The Securities and Exchange Commission (SEC) said Kik’s August defense of its $100 million initial coin offering (ICO) was “untenable” and is asking judges to toss it. A discovery motion filed…

Coindesk / AT&T Responds to Crypto Exec’s SIM Swap Suit: See You in Court

October 28, 2019 / coindesk

AT&T said it would fight allegations that it was negligent as a customer lost $1.7 million in a SIM swap. The allegations come from Seth Shapiro, VideoCoin’s head of strategy, who…

Coindesk / Inter-American Development Bank to Pilot Land Registries on Blockchain

October 28, 2019 / coindesk

After years of talking about it, the Inter-American Development Bank is for the first time testing out a blockchain for land registries. Next month, the global organization will embark on…

Coindesk / Another AT&T SIM Swapping Hack Targets Trio of Crypto Execs

October 26, 2019 / coindesk

A crypto executive is suing AT&T over a SIM swapping hack that he claims cost him $1.7 million in digital assets in a hit aimed at three executives attending Consensus…

Coindesk / Bitfinex Denies Laundering, Says It’s a Victim of ‘Fraud’ by Crypto Capital

October 25, 2019 / coindesk

Bitfinex says it was conned. The crypto exchange and sister company of Tether claimed Friday that it was the “victim of a fraud” at the hands of Crypto Capital, a…

Cointelegraph / Head of Crypto Capital Arrested in Connection With Money Laundering

October 25, 2019 / cointelegraph

Ivan Manuel Molina Lee, the president of controversial Panama-based payments processor Crypto Capital tied to Bitfinex and other major cryptocurrency exchanges, was arrested by Polish authorities. According to local news…

Coindesk / Zuckerberg: Facebook Would Quit Libra if the Association Launched Prematurely

October 23, 2019 / coindesk

WASHINGTON – Facebook CEO Mark Zuckerberg told lawmakers that the company would pull out of the Libra Association in the event the consortium launched its proposed cryptocurrency without all needed…

Coindesk / Former World Gold Council Exec Develops New Bitcoin ETF

October 23, 2019 / coindesk

The former managing director of the World Gold Council and the portfolio manager behind SPDR Gold Shares is developing a bitcoin exchange-traded fund (ETF) with boutique asset manager Kryptoin Investment…

Cointelegraph / Bitfinex Attempts to Recover $880 Million in New Court Filing

October 21, 2019 / cointelegraph

IFinex, the parent company of major cryptocurrency exchange Bitfinex filed a discovery application to regain access to $880 million in funds. Discovery is a law allowing each party to obtain…

Coindesk / FATF Joins BIS in Calling Stablecoins ‘Global Risk,’ Citing Money Laundering Concerns

October 18, 2019 / coindesk

Stablecoins pose a money laundering and terrorist financing risk to the world, the Financial Action Task Force (FATF) said Friday. In documents released after its latest meeting, the intergovernmental organization…

Coindesk / Facebook’s Libra Just Got Its First Major Supporter in Congress

October 17, 2019 / coindesk

Amid a sea of scorn, one U.S. Senator is praising Libra. Sen. Mike Rounds (R-S.D.) wrote a letter to Libra Association member Anchorage, a South Dakota-based trust company, endorsing the…

Coindesk / Identity Thief Spends $5 Million on Cloud Computing to Mine Cryptocurrency

October 11, 2019 / coindesk

Singaporean citizen Ho Jun Jia, 29, also known as Matthew Ho, was indicted for stealing over $5 million worth of cloud computing services to mine cryptocurrencies, according to a grand…

Coindesk / Facebook’s Calibra Sued by Mobile Banking App Over Similar Logos

October 11, 2019 / coindesk

Facebook’s Calibra is being sued for trademark infringement by mobile banking app Current, adding a potential legal showdown to the beleaguered Libra digital currency project’s growing list of woes. The…

Coindesk / SEC, CFTC, FinCEN Warn Crypto Industry to Follow US Banking Laws

October 11, 2019 / coindesk

The heads of three U.S. financial regulators warned the cryptocurrency industry to abide by banking laws in a joint statement published Friday. The statement, signed by Commodity Futures Trading Commission…

Coindesk / Bitfinex Doesn’t Have to Compile Documents During Appeal, Judge Says

October 10, 2019 / coindesk

A New York judge has rejected a New York Attorney General’s office request to have Bitfinex and Tether collect all documents pertaining to an alleged $850 million cover-up and $900…

Coindesk / London Stock Exchange-Backed Nivaura Hires Senior HSBC Banker

October 9, 2019 / coindesk

Nivaura, a London-based regulated fintech startup backed by the London Stock Exchange Group, has hired senior banker Chris Jones from HSBC, the company said. The company helps users process capital…

Coindesk / Crypto Traders’ Lawsuit Claims Bitfinex, Tether Cost Market Over $1 Trillion

October 7, 2019 / coindesk

A new lawsuit claims crypto exchange Bitfinex and its sister company Tether manipulated the crypto market, harming traders and benefiting themselves. Bitfinex and a number of affiliated entities engaged in…

Coindesk / Missouri Watchdog Hits Unregistered Crypto Brokerage With Cease and Desist

October 3, 2019 / coindesk

The Missouri Secretary of State Securities Division has sent a cease-and-desist letter to an unregistered crypto firm. Announced Wednesday, Mavixbtc Limited was ordered to halt operations after allegedly misleading investors. Mavixbtc…

Coindesk / Longfin Must Pay $6.8 Million After Court Backs SEC Fraud Complaint

October 1, 2019 / coindesk

Fintech firm Longfin Corp. has been ordered to pay almost $6.8 million after a court backed charges brought by the U.S. Securities and Exchange Commission (SEC) that it committed fraud…

Coindesk / Uzbekistan Plans Massive Hike in Electricity Prices for Crypto Miners

September 30, 2019 / coindesk

Uzbekistan’s Ministry of Energy has introduced a new bill that threatens to stifle the cryptocurrency mining industry in the Central Asian nation. Published on Friday, the draft bill would usher in a sharp…

Coindesk / Overstock, Patrick Byrne Hit With Class Action Over ‘Market Manipulation’

September 30, 2019 / coindesk

An investor has launched a class action lawsuit against Overstock and two former execs, claiming securities violations through making false statements to manipulate the firm’s stock price. According to a…

Coindesk / New Interest in DAOs Prompts Old Question: Are They Legal?

September 29, 2019 / coindesk

“Ethereum is only now starting to shrug off its ‘PTSDAO,’” tweeted Ameen Soleimani, the SpankChain CEO and creator of a now-$1.2 million decentralized autonomous organization (DAO) called the MolochDAO. After…

Coindesk / For Desperate Mt Gox Victims, Long-Shot Bitcoin Deal Beats Endless Wait

September 24, 2019 / coindesk

The Takeaway: Creditors of failed bitcoin exchange Mt. Gox are considering an offer by Russian law firm ZP Legal, which claimed it could recover up to 200,000 BTC from unnamed…

Coindesk / Ripple Avoids Securities Question in Motion to Dismiss XRP Lawsuit

September 20, 2019 / coindesk

Ripple has filed a motion to dismiss a lawsuit claiming it violated U.S. securities laws by selling XRP. In a new filing posted early Friday, attorneys for Ripple pushed back…

Coindesk / SEC Chair, Commissioners to Talk Crypto at US Congress Hearing Next Week

September 19, 2019 / coindesk

The U.S. House Financial Services Committee plans to question the Securities and Exchange Commission (SEC) about cryptocurrencies and Facebook’s Libra project next week, among a host of other topics. According…

Coindesk / DOJ Brings Extortion Charges Against Early Advisor to Ethereum, tZero

September 18, 2019 / coindesk

U.S. law enforcement has charged Steven Nerayoff, an early supporter of the ethereum project and a former paid advisor to Overstock’s tZero, with extortion. Nerayoff, an attorney and founder of blockchain…

Coindesk / Craig Wright ‘in Discussions’ to Settle Multi-Billion Dollar Court Case

September 18, 2019 / coindesk

Craig Wright, the Australian entrepreneur who controversially claims he is Satoshi Nakamoto, is moving to settle a case that looks set to cost him billions in bitcoin. The case has…

Coindesk / $2 Billion Lost in Mt. Gox Bitcoin Hack Can Be Recovered, Lawyer Claims

September 12, 2019 / coindesk

The Takeaway: Moscow-based law firm ZP Legal claims to have identified Russian nationals who received bitcoin stolen in the 2014 hack of Mt Gox. Local law enforcement is investigating Alexander…