Legal

Winklevoss Bros Ordered To to Pay Back $45K Legal Fee

Winklevoss Bros Ordered To to Pay Back $45K Legal Fee

Cameron and Tyler Winklevoss, Bitcoin Investors and Founders of Gemini Exchange have been ordered by U.S. District Court of the Southern District of New York to pay back $45,000 in legal fees incurred by entrepreneur Charlie Shrem. The twins had previously an invested in Shrem’s first startup BitInstant, an early crypto-exchange which was closed in 2013.

Texas Administrative Order Entered for 16 Crypto Scams

Texas: Administrative Order Entered for 16 Crypto Scams

The Texas State Securities Board have recently entered 16 administrative orders for 16 cryptocurrency scams. The state regulator then confirmed, “The emergency action effectively shut down the scam, as BitConnect almost immediately lost 99% of its market capitalization of $2.6 billion. None of the individuals or firms was registered to sell securities in Texas.”

Crypto Miners Allegedly Stealing Electricity Arrested in German

Crypto Miners Allegedly Stealing Electricity Arrested in German

The Germany authorities have successfully arrested a group of cryptocurrency miners that allegedly mining cryptocurrencies by stealing electricity. There are six suspects in total have been detained during the operation and reported were stealing electricity worth more than $3 million and managed to earn $14.5 million from the illegal mining activity.

Crypto Mining Firm Faces Charges In Israel

Crypto Mining Firm Faces Charges In Israel

Oded Rozenberg along with his Tel Aviv-listed solar energy company Apollo Power is facing charges filed by the Israel Securities Authority (ISA) for misleading crypto investors. The company falsely propagated news that it had filed for a patent in the US for a modular solar system containing a built-in crypto mining component; After which its stocks shoot up.

New Crypto Legal Framework Emerges In Venezuela

New Crypto Legal Framework Emerges In Venezuela

New crypto bill comes into force in Venezuela, which is а legal framework for miners, crypto entrepreneurs and regular traders in the industry. The document titled “Constituent Decree on the Integral System of Crypto Assets” gives short definitions of key terms, such as crypto assets, blockchain, mining, cryptography, etc. It introduces the concept of a sovereign crypto asset.

Philippines to Regulate ICOs

Philippines to Regulate ICOs

Cagayan Economic Zone Authority (CEZA) of the Philippines is the principal regulating authority of the nation have come up with a comprehensive framework to regulate the cryptocurrency industry, with a special focus on initial coin offerings (ICOs). Raul Lambino, CEZA administrator and CEO, said: “It is our goal to provide a clear set of rules and guidelines that will foster innovation…”

New york Crypto Thief Accused in Court

New york Crypto Thief Accused in Court

Dawson Bakies (20) a solo crypto thief has been accused for stealing identities and funds, including crypto, via a process known as SIM swapping by the Manhattan’s District Attorney.  This case represents the first prosecution for SIM swapping in New York. He redirects the traffic to his multiple iPhones, then changes Google & Crypto-exchange accounts password then demands payment in Bitcoin.

Cottonwood Granted Bitlicense by New York Regulator

Cottonwood Granted Bitlicense by New York Regulator

Cottonwood, a U.S.-based cryptocurrency ATM operator has become the second cryptocurrency ATM operator to receive a Bitlicense by the New York State Department of Financial Services (NYDFS). This will allow Cottonwood to operate as a legitimate money transmitter and digital currency exchange. To sustain must have robust anti-money laundering and cyber securities, transaction records for 10 years.

Bitcoin for Tax, Bill Approved in New Hampshire

Bitcoin for Tax, Bill Approved in New Hampshire

The bill which proposed the state’s resident to pay for their taxes in cryptocurrencies submitted by two U.S representative from New Hampshire has been approved following the steps taken by Ohio that also accepts cryptocurrency payment for taxes. The newly-approved bill has allowed the state residents to pay for taxes in cryptocurrencies from 2020.

G20 Nations Urges to Introduce International Regulatory Standards for Crypto

G20 Nations Urges to Introduce International Regulatory Standards for Crypto

The leaders from the 20 nations that are the members of G20 have issued a declaration regarding the needs to issue an international regulatory standard for the cryptocurrency. In its statement, “We will regulate crypto assets for anti-money laundering and countering the financing of terrorism in line with standards.”