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Legal

Bitfinex, Tether to Cease Operations in NY, Pay $18.5M Fine

  • After settling with the Office of the New York Attorney General, Bitfinex and Tether were ordered to introduce transparency measures.
  • Alongside a hefty fine, the companies will have to ensure the OAG that their corporate and client accounts remain segregated.
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  • After settling with the Office of the New York Attorney General, Bitfinex and Tether were ordered to introduce transparency measures.
  • Alongside a hefty fine, the companies will have to ensure the OAG that their corporate and client accounts remain segregated.
Image from Shutterstock

Mt. Gox Creditors Could Soon Claim 90% of Remaining Bitcoins

  • A new deal between Mt. Gox's trustee and Fortress will enable creditors to claim 90% of the exchange's remaining Bitcoin.
  • If the majority of creditors agree, they would be reimbursed directly from the Mt. Gox trust.
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Visa & Plaid’s Merger Blocked by DoJ Antitrust Suit

  • The U.S. DoJ has alleged that Visa was using the acquisition to snuff out its competition.
  • The planned $5.3 billion acquisition was canceled almost one year after it was announced.
Brad Garlinghouse, CEO of Ripple, speaking at Fortune Brainstorm TECH 2013 in Aspen, United States on July 23, 2013. Stuart Isett/Fortune Brainstorm TECH

Damage Done: Coinbase is Delisting XRP

  • The avalanche of XRP delistings seems to have arrived, as Coinbase has just announced that the asset will not be tradeable on their platform after January 19.
  • The larger cryptocurrency community is torn on the issue, while XRP has lost two thirds of its price within ten days.

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Securities and Exchange Commission symbol on a building. Money Crashers.

SEC Sues Ripple Over $1.3B Unregistered Securities Offering

  • The regulator has accused Ripple of raising more than $1.3 billion in an "unregistered, ongoing digital asset securities offering".
  • The question if XRP is a security has been up in the air for years now, and we might soon get an answer.
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Founder of Centra Tech Sentenced to Prison for ICO Scam

  • Robert Farkas was sentenced to one year in prison for conducting an illegal ICO.
  • Farkas and other Centra Tech founders defrauded investors out of $25 million in 2017.
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Donald Trump is Considering Clemency for Ross Ulbricht

  • The initiative to free Ross Ulbricht has gained massive support throughout the years, with some White House insiders being known supporters of the cause.
  • No official source has confirmed the information, sources for the Daily Beast are anonymous.
United States Securities and Exchange commission logo on entrance of DC building near H street in Washington, DC on 22 September 2018. Shutterstock

U.S. Court Orders Blockvest to Pay $700K

  • The firm had made false claims to have received regulatory approval from various agencies, one of which was fabricated.
  • Blockvest and its founder will need to pay $696,000 in civil penalties, and abide by a number of restraints and conditions moving forward.
Alexander Vinnik escorted to the Supreme Court to examine the request of the U.S. for extradition - Athens, Greece on 15 November 2017. Alexandros Michailidis

BTC-e Operator Alexander Vinnik Sentenced to 5 Years in Prison

  • A French court has found the Russian national guilty of money laundering "as part of an organized criminal group".
  • The court decided to drop the other charges of extortion, conspiracy, and the development of the ransomware known as Locky.
The United States Patent and Trademark Office in Alexandria, VA, USA on June 30, 2018. Shutterstock

CipherTrace Files Patent For Monero-Tracking Technology

  • This is the second patent filing from the blockchain analytics firm that outlines a Monero tracking technology.
  • Both applications are the result of the firm's work with the U.S. Department of Homeland Security, which began in 2019.
Ripple CEO Brad Garlinghouse speaks onstage during Day 1 of TechCrunch Disrupt SF 2018 at Moscone Center on September 5, 2018 in San Francisco, California. Steve Jennings/Getty Images for TechCrunch

Ripple Continues To File For Trademarks In The U.S.

  • Last week the firm filed for yet another trademark, PayString, though the lack of information leaves us guessing what it will be used for.
  • 2020 has been a busy year for Ripple, as can be seen from the USPTO website, which shows the company has filed for 11 trademarks throughout the year.
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Chainalysis Launches Service To Assist The Management, Sales Of Seized Crypto Assets

  • Chainalysis will enable law enforcement-seized cryptocurrency to legally flow back into circulation.
  • The blockchain analytics company will collaborate with experts in management of seized cryptocurrency, Asset Reality.
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Cred Files For Bankruptcy

  • Following irregularities in the handling of specific corporate funds by a perpetrator of fraudulent activity, crypto lender Cred has filed for bankruptcy.
  • A recovery plan has been initiated with the goal of recovering user funds.
Sign of the Department of Justice (DOJ) in Washington, DC on September 10, 2016. Mark Van Scyoc/Shutterstock

Chainalysis Helps DOJ Seize More Than $1B In BTC Stolen From Silk Road

  • Agents from IRS-CI used Chainalysis tools and managed to identify Individual X, from whom the funds were seized.
  • The civil complaint is a mere standard procedure aiming to prove that the seized assets are subject to forfeiture.