Winklevoss Twins to Pay Out $45,000 in Legal Fees to Charlie Shrem After New Ruling

Bitcoin (BTC) entrepreneur and advocate Charlie Shrem will receive around $45,000 in legal costs from Tyler and Cameron Winklevoss as part of an ongoing lawsuit, according to an official document filed on Feb. 7.The latest step in the lengthy legal proceedings between the former business partners, a judge at the District Court of the Southern…

Crypto Firm Accused of Fraud, Duping Investor Into Buying $2 Million in Tokens

A lawsuit recently filed in a United States district court in New York claims that an investor was misled into investing $2 million dollars in the cryptocurrency MCash, a Feb. 1 court filing states.The filing alleges that the plaintiff Lijun Sun transferred $2 million to New-York based investment group Blue Ocean Capital Group, Inc. to…

Crypto Exchange QuadrigaCX Missing $145 Mln After Death of Founder

Following the sudden death of its founder Gerry Cotten, cryptocurrency exchange QuadrigaCX is reportedly missing CA$190 million dollars ($145 million) in digital assets, Canadian news daily The Globe and Mail reports on Feb. 1Citing a creditor protection filing from the Nova Scotia Supreme court, the Globe and Mail states that the firm has been unable…

US: Bill Exempting Non-Custodial Crypto Services From Certain Laws Reintroduced to Congress

A bill exempting companies providing non-custodial crypto services from certain state money transmitting laws has been resubmitted to the United States Congress. Data confirming this was published on the Congress’ official website on Jan. 14.The bill, titled “To provide a safe harbor from licensing and registration for certain non-controlling blockchain developers and providers of blockchain…

The Cost of Not Engaging Regulators

opinion Zachary Fallon and James Blakemore are securities law attorneys who lead Ketsal Consulting, a strategic advisory firm focused on blockchain compliance. The following is an exclusive contribution to CoinDesk’s 2018 Year in Review.  If the top cryptocurrency story of 2018 was the arrival of winter, a close and inextricably intertwined second was regulatory oversight. The regulators are…

British Crypto Exchange CEX.IO Now Requires Identity Info From Users

United Kingdom-based cryptocurrency exchange CEX.IO now requires its users to disclose their identities, financial trading news outlet Finance Magnates reported Dec. 11.Established in 2013, CEX is a London-based cryptocurrency trading platform, initially started as a cloud mining provider. Currently, the exchange supports eight major digital currencies and four major fiat currencies, while its adjusted daily…

Cryptocurrency ‘Illegal’ In India Says Trade Organization Head

The head of an Indian nonprofit trade organization said cryptocurrency is “illegal,” and urged businesses to obey the law, local news daily the Hindu reported Thursday, Oct. 25.Debjani Ghosh, the president of the National Association of Software and Services Companies (NASSCOM), was cited by the Hindu saying that cryptocurrencies are illegal from NASSCOM’s perspective. NASSCOM…

Judge Orders Trading Firm, CEO to Pay $2.5 Million in Bitcoin Ponzi Case

The Commodity Futures Trading Commission has won a legal battle against a New York resident and his company for running a Ponzi scheme centered around bitcoin. Between 2014 and early 2016, Gelfman Blueprint, Inc. (GBI) and its CEO Nicholas Gelfman ran a scheme wherein they successfully solicited $600,000 from 80 customers, claiming that customers would earn…

ICOs Can ‘Prove Their Legitimacy’ Under New Crowdfunding Rules, Says EU Lawmaker

The European Parliament’s Committee on Economic and Monetary Affairs is working on new crowdfunding regulations that could extend to some initial coin offerings (ICOs), according to a draft report published August 10. Ashley Fox, a British Member of the European Parliament (MEP), proposes bringing some ICOs within the remit of a new draft regulatory framework…

Ohio Becomes Latest US State to Legally Recognize Blockchain Data

NEWS Aug 7, 2018 at 09:30 UTC  |  Updated  Aug 7, 2018 at 10:42 UTC Ohio has become the latest U.S. state to legally recognize data stored and transacted on a blockchain. The news comes after lawmakers from the state introduced a bill in May that sought to treat blockchain data and smart contracts as electronic records…