LEGAL
Since the emergence of Bitcoin, policies and laws around cryptocurrencies has been controversial. Some countries have started to embrace digital currencies, while others have decided to ban digital assets altogether. Lawmakers and policymakers are beginning to evaluate the benefits of cryptocurrencies, while also raising concerns.
US Federal Court Defines Bitcoin As Money
A US Federal court has classified Bitcoin as a “money” under the Washington, D.C, Money Transmitters Act (MTA).
China’s Supreme Court Decides to Strengthen the Protection of Cryptocurrency Property Rights
The Chinese Supreme Court has decided to strengthen cryptocurrency property rights. China’s Supreme Court is looking to further protect property rights, including economic property rights through different ownership systems in accordance with the law.
To Criminalize or Not to Criminalize Bitcoin and Crypto? Moscow Reconsiders
The State Duma is discussing its legislative plans regarding Bitcoin and cryptocurrency usage and has been reported to seemingly have a change of heart regarding digital assets adoption in Russia.
Bitfinex and Tether Claim Lawsuit Allegations of Market Manipulation are Baseless
BitFinex and Tether have officially spoken out against what they are describing as a baseless lawsuit, designed to undermine the cryptocurrency ecosystem.
HSBC Chief Legal Officer Stuart Levey Gets Appointed as Libra’s New CEO, Expert in Dealing with Regulatory Backlash
The Libra Association appointed its first CEO, Stuart Levey, the Chief Legal Officer at HSBC Holdings. Levey will be overseeing the Libra digital currency and payments system and holds a strong compliance track record and is expected to join Libra in the coming months. However, HSBC has not shown the same upright compliance record. Levey is also expected to “combine technology innovation with robust compliance and regulatory framework.” The Facebook-led project has invited scrutiny from global regulators, with concerns over its threat to national sovereignty with its potential launch. Many of Libra’s original members, including Vodafone, PayPal, and Visa have also chosen to leave the association.
Is Bitcoin in India about to Boom? Paxful Survey Projection
Paxful, the peer-to-peer bitcoin marketplace, has released a survey that indicates India’s enthusiasm for Bitcoin has been reignited following the landmark decision to lift the ban on crypto trading.
US Congressman Set to Implement the Cryptocurrency Act of 2020
Paul Gosar of the House of Representative introduced the “Crypto-Currency Act of 2020,” on March 9, a bill that is set to choreograph a wide range of digital assets to be liable to the appropriate regulatory bodies and agencies assigned to it.
How the New Crypto Law in India Could Play Out
After the celebration seen in India’s Supreme Court as the verdict was given against the Reserve Bank of India (RBI) in its action of restricting financial institutions from providing banking services to cryptocurrency-based businesses, interested parties are wondering how the recent news will play out.
Australian Judge Allows Plaintiff to Use Bitcoin as Collateral Bond
In Australia, a New South Wales (NSW) court has allowed a cryptocurrency exchange account to be used as a collateral bond for legal costs.
Qatar Issues Crypto Ban, Digital Securities Still Allowed to Roam
Qatar’s regulator has blocked all crypto asset services in the nation. The Qatar Financial Centre Authority (QFC) mentioned in a statement that all “Virtual Asset Services may not be conducted in or from the QFC at this time.”
Chinese Smart Courts Leveraging Blockchain and AI
Smart courts in China are reportedly leveraging a range of innovative technologies to settle legal cases. The online judiciary courts utilize big data, cloud computing, artificial intelligence, and blockchain.
