Bitcoin in the Docks: 7 Crypto Court Cases
Bitcoin is back in the headlines again this week, but for all the wrong reasons. It surfaced yesterday that two operators of bitcoin exchange Coin.mx were being charged by US prosecutors for working without a money transmission license. This is by no means the first time characters associated to bitcoin have had a brush with the law - the space has certainly witnessed more than its fair share of scams, hacks and deception. With this in mind, let's take a trip down memory lane and remind ourselves of some of the more high-profile bitcoin-related court cases. 1. Charlie Shrem: bitcoin's....
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The Constitutional Court of the Russian Federation is going to have to deal more and more often with cases involving new kinds of individual rights, its head has recently admitted. Some of them will be related to cryptocurrencies and blockchain technology, the official believes. Constitutional Court of Russia to Defend Rights Related to Cryptocurrencies Constitutional justice, as far as protection of human rights is concerned, will be increasingly influenced by the emergence of a new generation of rights, Valery Zorkin, chairman of the Constitutional Court of Russia has acknowledged.....
The world of finance already seems to evolve at a slow pace, yet some countries manage to come up new ideas that make the situation even worse than before. Recently the Belgian Court of Cassation has decided to let the Department of Finance use any evidence in court, even if it has been obtained through “dubious” activities. When governmental bodies and departments start blurring the lines between what is morally correct, and what is an outright breach of privacy, things take a turn for the worse. The main issue most people have with the ruling by the Belgian Court of Cassation is how it....
The SEC, CFTC and DOJ have seven cases either resolved or ongoing this year, with the litigation against husband-wife duo Ilya Lichtenstein and Heather Morgan being the most high profile. A new crypto litigation tracker from commercial law firm Morrison Cohen LLP shows details of more than 300 active and settled court cases since 2013. Morrison Cohen is a New York-based firm that caters to large financial institutions, entrepreneurs and early-growth stage companies, and specializes in capital markets, business litigation, real estate and bankruptcy to name a few. The company also has a....
While the bitcoin economy is currently backed by $284m in venture capital and has a growing band of high-profile supporters, it still operates in a regulatory grey area in its largest market. Unsurprisingly, just how the US will and should choose to regulate the digital currency is the subject of a continuing debate throughout all sectors of the ecosystem. But, while the media focuses largely on policymakers like those currently making waves in New York, the country's courts may yet prove to have a deciding influence on the legal future of bitcoin. Earlier this month Trendon Shavers made....
The legal team requested the court appoint a committee representing certain shareholders or the case could end up "inappropriately and inequitably skewed in favor of the customers." An international law firm representing groups of Celsius investors has filed a motion to appoint a committee to represent their interests in the crypto lending firm’s bankruptcy case.In a Thursday filing with the U.S. Bankruptcy Court in the Southern District of New York, lawyers with the law firm Milbank requested the appointment of an "Official Preferred Equity Committee" to represent certain Celsius....