Tag: Law

A New Bitcoin World

How 10 Countries Respond to Facebook’s Libra Cryptocurrency

How 10 Countries Respond to Facebook’s Libra CryptocurrencyA growing number of governments have responded to Facebook’s cryptocurrency plans including China, France, India, Japan, South Korea, Russia, Singapore, Thailand, the U.K., and the U.S. Several intergovernmental organizations have also weighed in such as the European Central Bank and the Bank of International Settlements. Also read: G20 Leaders Issue Declaration on Crypto Assets – […]

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July 11, 2019 0

Venezuela’s New Crypto Rules Enter Into Force

Venezuela’s New Cryptocurrency Rules Enter Into ForceThe decree establishing a legal framework for cryptocurrencies in Venezuela has entered into force. It contains 63 articles including rules for the purchase, sale, use, distribution, and exchange of cryptocurrencies and related products. It also mandates a registration system and details audit procedures, penalties for non-compliance, and how mining equipment can be confiscated. Also read: Indian Supreme […]

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February 4, 2019 0

Wyoming Senate Passes Bill Recognizing Cryptocurrency as Money

Wyoming Senate Passes Bill Defining Cryptocurrency as PropertyThe Senate of the U.S. state of Wyoming has passed a bill which defines cryptocurrency as property and establishes rules including for allowing banks to provide crypto custodial services. For secured transactions, however, the bill recognizes cryptocurrency as money subject to some of the same rules as money in the state. Also read: Indian Supreme Court Moves […]

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February 2, 2019 0

Some of Bitcoin’s Earliest Adopters Find it Difficult to ‘Cash Out’

Wealthy Darknet Vendors Have Issues 'Cashing Out'The price of BTC had increased in value significantly over the years, reaching $19,600 at its highest peak – and the exchange rate rests at $8,500 today. This is a stark contrast to just over a year ago when the digital currency’s value was under $1,000 per coin. Since the fiat value has increased so […]

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March 20, 2018 0

South Korean Regulator: In Reality Impossible to Close Cryptocurrency Exchanges

South Korean Regulator: It Is Impossible in Reality to Close Cryptocurrency ExchangesThe South Korean Fair Trade Commission (KFTC) does not have the authority to close cryptocurrency exchanges. “It is impossible in reality,” said the KFTC chairman. The agency is currently investigating 13 major exchanges operating in the country for alleged violations of the e-commerce law. Also read: South Korean Officials Caught Trading On Insider Knowledge of Crypto […]

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January 18, 2018 0

Japan Teaches Western Governments a Lesson in Cryptocurrency Regulation

Japan Teaches Western Governments a Lesson in Cryptocurrency RegulationBitcoin is a phenomenon that provokes conflicting emotions in people. Fear. Excitement. Elation. Doubt. For governments tasked with regulating every new thing that comes along, be it the motor car or the internet, bitcoin presents a conundrum. How to regulate such a seemingly unregulatable creation? While many western governments have reached for the button marked […]

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November 13, 2017 0

The Risks of Segregated Witness: Problems under Evidence Laws

The Risks of Segregated Witness: Problems under Evidence LawsBy Jimmy Nguyen Chief IP, Communications & Legal Officer – nChain Group The bitcoin community still debates whether Segregated Witness will help the network’s scalability or will instead create more problems.  As I have previously written, SegWit raises legal questions because it would enable full digital signature (witness) data to be dropped from the transaction […]

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September 12, 2017 0

Korean Court Rules Bitcoin Cannot Be Confiscated

A South Korean district court has ruled for the first time regarding the nature of digital currencies. In the case where 216 bitcoins were seized by the police as criminal proceeds, the court ruled that it is inappropriate to confiscate bitcoins. Also read: South Korea to Dispose of 216 Bitcoins in First Public Auction The Court’s Ruling […]

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September 9, 2017 0

Delaware Passes Bill Recognizing Stock Trading via Blockchain Technology

Delaware Passes Bill Recognizing Stock Trading via Blockchain TechnologyDelaware has passed a bill that legally recognizes the trading of stocks using blockchain technology. Although the state has sought to promote itself as a bastion for blockchain investment, the bill is extremely limited in its scope – leading many to view Delaware’s government as attempting to cash in on bitcoin’s recent boom. Also Read: Bitwage

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July 4, 2017 0