U. S. District Court Ruling May Derail 'Bitcoins.com' Auction
With recent news that the highly-valuable bitcoins.com domain name was going up for auction, many start-ups and entrepreneurs may have seen an acquisition as nothing short of beneficial. We're learning however, that a Judge's ruling may derail the auction - which presently holds a reserve price of a whopping $750,000. This particular case involves CoinLab, a former Mt. Gox partner, who last year sued the company for $75 million for breach of contract. On July 22nd, a U. S. District Court of Seattle Judge granted a temporary restraining order against Tibanne - Mt. Gox's parent company, also....
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Akihiro Shiba is an attorney-at-law qualified in Japan, working at Nishimura & Asahi's Tokyo office, with expertise in financial regulations and transactions and provides advice on virtual currencies. In this article, he examines what the recent Tokyo District Court ruling means for the status of bitcoin in Japan. In a lawsuit filed by an individual against the bankruptcy trustee for Mt Gox, formerly the most widely used bitcoin exchange in the world, the Tokyo District Court handed down a judgment on 5th August, 2015, holding that bitcoins are not subject to ownership. This is probably....
A restraining order issued by the US District Court of Seattle has resulted in the cancellation of the anticipated auction of the Bitcoins.com domain name. The domain name, currently owned by Mt. Gox CEO Mark Karpeles through his company Tibanne KK was expected to be auctioned by US-based auction house Heritage Auctions on 24th July. However, bitcoin startup CoinLab - which recently agreed to support Mt. Gox's bankruptcy plan - moved to prevent the sale. Tibanne KK has been ordered to preserve and account for all held assets, which includes the Bitcoins.com domain name. In a statement,....
The United States Securities and Exchange Commission (SEC) has reportedly decided not to appeal the recent court’s decision regarding a case between the federal securities regulator and Grayscale Investments. In a high-profile ruling on August 29, the US District of Columbia Court of Appeals granted the prominent asset manager’s request to convert its Grayscale Bitcoin […]
A federal judge in New York has ruled that bitcoin constitutes a form of money. The ruling comes from the ongoing case involving the now-defunct Florida bitcoin exchange Coin.mx and one of its former operators, Anthony Murgio. Murgio, who was indicted on alleged money laundering charges in July of last year, had sought to dismiss two of the charges against him in part by arguing that bitcoins don't count as "funds" in the context of US law. According to Reuters, Judge Alison Nathan of the Southern District Court of New York rejected that bid, writing that bitcoin is money by....
This document on the Mt. Gox website announces the Tokyo court ruling, ordering bankruptcy proceedings for the exchange. The Mt. Gox website got updated with a new document. The Tokyo District Court ordered liquidation to begin at the failed Bitcoin exchange. This definitive order follows an earlier announcement made last week, where the bankruptcy administrator said it would be difficult to get Mt. Gox started again. "At 5 p.m. on April 24, 2014, the Tokyo District Court issued an order of commencement of the bankruptcy proceedings for MtGox Co., Ltd. (the "Company") (Case No.: Heisei....