New York State Digital Currency Task Force Appoints New Members

Legislators from the New York State Assembly have appointed six members to the New York State Digital Currency Task Force.In a video announcement on July 22, Assembly member Clyde Vanel announced six appointments to the group, which is tasked with investigating and making regulatory recommendations regarding digital currencies and blockchain technology. The task force will consist…

New York Supreme Court Grants Bitfinex’s Motion to Modify Injunction

Justice Joel Cohen of the New York Supreme Court has granted the Bitfinex cryptocurrency exchange’s motion to modify an injunction from the New York Attorney General (NYAG), Bitfinex announced on May 16.Per the announcement, the court order will allow Bitfinex and affiliated stablecoin operator Tether to continue their normal business. It also states that the…

Banking, Bitfinex and the Hidden Irony of Crypto’s Newest Controversy

opinion Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. When I visited some early bitcoin startups in Hong Kong five years ago, they were…

Bitfinex Covered $850 Million Loss Using Tether Funds, NY Prosecutors Allege

news The New York Attorney General’s office has alleged that crypto exchange Bitfinex lost $850 million and subsequently used funds from affiliated stablecoin operator Tether to secretly cover the shortfall. According to a press release issued Thursday, NYAG Letitia James announced that she had obtained a court order against iFinex Inc., which operates both Bitfinex…

New York Denies Bittrex BitLicense Application Citing Inadequate Compliance

The New York Department of Financial Services (NYDFS) has denied a BitLicense application from the Bittrex cryptocurrency exchange on April 10.In a letter to Bittrex CEO Bill Shihara, NYDFS explained that the exchange had inadequate policies and controls regarding Anti-Money Laundering (AML), Know Your Customer (KYC) and Office of Foreign Assets Control (OFAC) standards.Bittrex applied…

Major Japanese Trading Firm Marubeni Partners with US Blockchain Company LO3 Energy

Japanese general trading company Marubeni Corporation has partnered with a New York-based blockchain startup to use the technology for its energy business, Marubeni confirmed in a press release on Feb. 20.Marubeni, which has expanded beyond Japan into the United States as well as Europe, selected LO3 Energy’s transactive energy platform as the basis for an…

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…