Law Financial News

15.05 / 09:53

Law regulation Court UK Court recognizes NFTs as ‘private property’ — What now?

At the beginning of May, the British Web3 community celebrated an important legal precedent — the High Court of Justice in London, the closest analog to the United States Supreme Court, has ruled that nonfungible tokens (NFT) represent “private property.” There is a caveat, though: In the court’s ruling, this private property status does not extend to the actual underlying content that NFT represents. Cointelegraph reached out to legal experts to understand what this decision could possibly change in the British legal landscape.

12.05 / 13:03

Government Law ICO crypto framework Framework 2024 Leaked report: South Korea to establish crypto framework by 2024

The administration of the newly-elected President of South Korea, Yoon Suk-yeol, wastes no time in its drive to maintain the country’s stature as a center for innovation as it hopes to roll out comprehensive crypto legislation in 2023 and institutionalize the sector by 2024.

12.05 / 00:33

Law casino 5 state regulators allege organization is tied to Russia, scamming users using metaverse casino

Authorities in the U.S. states of Alabama, Kentucky, New Jersey, Texas and Wisconsin have filed enforcement actions against the Flamingo Casino Club for allegedly perpetrating a scam through nonfungible tokens (NFTs) tied to a metaverse casino.

10.05 / 19:51

Government Law Stablecoin stablecoin regulation US Treasury Secretary reaffirms need for stablecoin regulation following UST crash

United States Secretary of the Treasury Janet Yellen called on U.S. lawmakers to develop a "consistent federal framework” on stablecoins to address risks to financial stability.

10.05 / 18:55

Law regulation UK government targets crypto in latest legislative agenda

The United Kingdom has introduced two bills both concerning the seizure and support for cryptocurrencies as part of Prince Charles' remarks at the State Opening of Parliament.

09.05 / 22:39

Law Europe Congress Law Decoded: Crypto retirement plans get hot with Warren and Lummis making their moves, May 2–9, 2022

Retirement plans still largely remain at the periphery of both crypto adoption and the regulatory discussion. But last week, a major development emerged in this department. United States Senators Elizabeth Warren of Massachusetts and Tina Smith of Minnesota became concerned about Fidelity’s recent announcement of adding Bitcoin (BTC) to its clients’ 401(k) retirement investment menu. In a letter to the company’s CEO Abigail Johnson, the lawmakers expressed their uneasiness over a “conflict of interests” and the “significant risks of fraud, theft and loss,” requesting from Fidelity a detailed outline of risk mitigation actions.

06.05 / 18:53

Law SEC NVIDIA Nvidia to pay $5.5M as part of SEC case concerning 'inadequate disclosures' around crypto mining

The United States Securities and Exchange Commission, or SEC, has announced that it has settled charges against Nvidia — the company behind graphics cards used by many crypto miners — in regards to “inadequate disclosures.”

06.05 / 08:23

Law Banks South America Argentina’s central bank steps in to block new crypto offerings from banks

The central bank of Argentina (BCRA) has put the kibosh on financial institutions offering crypto trading only days after two of the country's largest banks signaled they were opening up to digital assets.

05.05 / 22:07

Law CFTC CME CFTC commissioner appoints crypto-experienced CME Group director as chief counsel

Kristin Johnson, one of five commissioners currently serving at the United States Commodity Futures Trading Commission, or CFTC, has announced that a CME Group executive director with experience in crypto will be joining her staff.

05.05 / 04:09

Government Law Electricity Power Consumption Crypto miners Kazakhstan ramps up power consumption reporting requirements for crypto miners

The government of Kazakhstan has laid out new reporting requirements for cryptocurrency mining operators with a keen eye on how the industry's energy usage affects the local power grid.

04.05 / 19:45

Law regulation Dubai open From within: Dubai's virtual asset regulator plans to open HQ in metaverse

The Dubai Virtual Asset Regulatory Authority, or VARA, has purchased land in the virtual reality world The Sandbox (SAND) as part of its plans to set up a metaverse headquarters.

04.05 / 15:07

Law Europe privacy European Union digital euro Proposed digital euro designs lack privacy options, ECB presentation shows

Next to the fears of government overreach that the European Union’s ambitious digital euro project stirred, the main concern of the public is the prospective currency’s privacy framework. It appears that this worry might not be overblown after all: as the European Central Bank's (ECB) latest presentation hints, user anonymity is not a desirable design option.

03.05 / 22:37

business Law Food Gatorade trademark applications hint at joining the metaverse

Stokely-Van Camp, the beverage company with the original rights to market and produce Gatorade, may be exploring releasing virtual sports drinks in the metaverse.

03.05 / 14:15

Law regulation Taxes Bitcoin crypto framework Framework Uzbekistan's president issues decree to adopt special crypto framework

The Republic of Uzbekistan continues to progress with local cryptocurrency regulations, with Uzbek President Shavkat Mirziyoyev issuing a new decree regulating the industry.

03.05 / 00:37

Facebook Law copyrights Dfinity Foundation files lawsuit against Meta over infinity logo

Lawyers for Dfinity Foundation, a Switzerland-based nonprofit behind the Internet Computer blockchain, have filed a lawsuit against Facebook’s parent company Meta for trademark infringement over its infinity logo.

02.05 / 22:41

Law Ban New York State Law Decoded: The difference between New York City and New York State, April 25-May 2

Last week, New York dominated crypto media headlines in very different ways. In New York State, the local Assembly voted in favor of the bill that would ban for two years any new mining operations that rely on proof-of-work (PoW) consensus mechanisms and use fossil fuel-generated energy.

02.05 / 20:09

Law regulation Europe European Union EU commissioner calls for global coordination on crypto regulation

Mairead McGuinness, the commissioner for financial services, financial stability and capital markets union at the European Commission, is calling for global regulators to work together to address potential risks in the crypto market.

02.05 / 16:19

business Law Adoption Bitcoin El Salvador Bitcoin wallet shows ‘strong sign of adoption,’ exec says

El Salvador’s government-backed Bitcoin (BTC) wallet has reached significant success in terms of adoption, according to an exec at the cryptocurrency exchange behind the wallet.

01.05 / 16:47

Law proof-of-work POW Go green or go home? What the NY State mining moratorium could mean for crypto industry

On April 26, the State of New York put itself at the forefront of the regulatory struggle with crypto, as its Assembly voted for a two-year moratorium on crypto mining operations that use energy generated by fossil-fuel power plants. Depending on how one looks at it, this development could either signal a new alarming legislative trend or a trigger that would accelerate the digital asset industry’s movement toward a more sustainable path.

30.04 / 16:21

Government Blockchain Law FATF Solving the ‘Sunrise Issue’ is the key to unlocking crypto mass adoption

We have all been there. You see something, hear something, or feel something, and want to share that feeling or observation with someone else. Do you pick up the phone? Send over a text? Record a voice note?

29.04 / 19:49

business Law Trading coinbase Coinbase CEO responds to insider trading allegations with changes for token listings

After some crypto sleuths made allegations of insider trading by individuals potentially connected to Coinbase, CEO Brian Armstrong said the crypto exchange would change some of its token listing practices.

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