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Legal

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

Andjela Radmilac -
  • 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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Exchanges
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Andjela Radmilac -
  • 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.
Read more
Exchanges
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Mt. Gox Creditors Could Soon Claim 90% of Remaining Bitcoins

Andjela Radmilac -
  • 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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Lawsuits
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Visa & Plaid’s Merger Blocked by DoJ Antitrust Suit

Krasimir Buchvarov -
  • 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.
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Exchanges
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

Nikolay Nikov -
  • 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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Lawsuits
Securities and Exchange Commission symbol on a building. Money Crashers.

SEC Sues Ripple Over $1.3B Unregistered Securities Offering

Krasimir Buchvarov -
  • 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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Fraud
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Founder of Centra Tech Sentenced to Prison for ICO Scam

Andjela Radmilac -
  • 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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Legal
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Donald Trump is Considering Clemency for Ross Ulbricht

Nikolay Nikov -
  • 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.
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Initial Coin Offerings
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

Krasimir Buchvarov -
  • 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.
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Legal
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

Krasimir Buchvarov -
  • 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.
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Patents
The United States Patent and Trademark Office in Alexandria, VA, USA on June 30, 2018. Shutterstock

CipherTrace Files Patent For Monero-Tracking Technology

Krasimir Buchvarov -
  • 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.
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Legal
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.

Krasimir Buchvarov -
  • 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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Cryptocurrency
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Chainalysis Launches Service To Assist The Management, Sales Of Seized Crypto Assets

Anastas Chobanov -
  • 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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Legal
Image from Freepik

Cred Files For Bankruptcy

Nikolay Nikov -
  • 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.
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Bitcoin
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

Doncho Karaivanov -
  • 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.
Read more
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