Legal
New York Court Continues Proceedings Against Man Linked to OneCoin
- David Pike's trial, who is allegedly linked to the OneCoin scheme, was postponed until 12 January 2020.
- Pike has been accused of having made materially false statements in front of special agents from the FBI and the IRS.
New IBM Patent: Switching Mobile Service Providers Using Blockchain
- The new patent describes a system that makes it easier for people to switch service providers while keeping the same phone number.
- Current number portability services are inefficient, costly, and slow, and can take up to 15 days.
Nike Awarded CryptoKicks Patent
- Blockchain will be used to secure ownership and allow consumers to check sneaker authenticity.
- The digital asset management will be handled by Digital Locker, which is essentially a blockchain-powered mobile app.
IBM Patents Blockchain Use For Preventing Thefts by Drones
- The patent describes a system where packages will be equipped with an altimeter, tracking their altitude to prevent drones from stealing it.
- Blockchain will be preferably used as a way to store the tracking data, granting access to the consumer, merchant, and shipper.
Cisco Secures 5G Edge With Blockchain Patent
- In the race for 5G supremacy, every small advantage will count.
- The patent describes a blockchain platform the can be implemented in wireless networks and helps with the data exchange between devices and the networks they operate in.
Huge Drug, Cryptocurrency Confiscation in Western Australia
- An electronic device found in a searched residence contained $1,524,102 worth of cryptocurrency.
- A man and a woman were charged with possession and intent to sell cannabis and MDMA.
Coinbase Patents System that Identifies Non-Compliant Accounts
- Coinbase's system will use a variety of factors to determine if an account fails the compliance standards or not.
- The system will self update its compliance model from the data that it collects, as well as suspended and report "bad" accounts.
OneCoin’s Lawyer Found Guilty of Money Laundering, Faces 50 Years
- Mark Scott allegedly got paid $50 million to help Ruja Ignatova launder $400 million.
- He reportedly used a network of fake companies, offshore bank accounts and fraudulent investment schemes to launder the ill-gotten funds.
Gold-Backed Karatbars Ecosystem Under Regulatory Pressure
- Karatbars CEO denied all accusations, stating that they are made based on a scam website that has nothing to do with the company.
- Karabats has other warnings coming from Florida, Namibia and Netherlands.
Telegram Asks Court to Dismiss SEC Lawsuit in New Filing
- In the filing the messaging app firm has refuted all allegations made by the SEC that its token is a security.
- The firm further accused the U.S. regulator of engaging in "improper ‘regulation by enforcement’ in this nascent area of the law".
CFTC and SEC File Charges Against Swiss Securities Dealer
- XBT Corp., which operates under the name First Global Credit, allegedly sold unregistered security-based swaps for bitcoins.
- The company will have to pay the SEC more than $130,000 in fees and disgorgement, while the CFTC has charged it an additional $100,000.
QuadrigaCX Founder’s Widow to Hand Over $9 Million in Assets
- After handing over most of her assets and all of the estate's assets, Jennifer Robertson will be left with $162,700 in personal assets.
- She personally suggested the settlement after EY Canada released their fifth report, which revealed that her husband commingled client and corporate funds.
Bitfinex and Tether Accused of Crypto Market Manipulation
- The complaint document claims that the two firms' market manipulation caused economic damages equal to more than a trillion dollars.
- Days before the accusations were made Bitfinex released a statement, saying that it was expecting such a lawsuit.
EOS Maker Block.One Reached $24 Million Settlement with SEC
- The current EOS token will not be registered as a security, as the settlement applied only to the original ERC-20 token, which is no longer in circulation.
- The company was able to raise around $4.1 billion during its ICO, which makes the fine only 0.58% of the proceeds.