Bitcoin Foundation Releases 'Primer on the Law of Jurisdiction'
The Bitcoin Foundation on Wednesday announced they are releasing what they are calling a 'Primer on the Law of Jurisdiction', which aims to assist both small businesses and start-ups manage their regulatory obligations. The five-page document was commissioned by Robert A. McFarlane, partner and chair of technology law practice at Hanson Bridgett LLP in San Francisco. The primer is designed to help businesses in the digital currency realm avoid making themselves subject "burdensome" regulations that would be considered as unfriendly to both bitcoin and digital currency altogether. The....
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As mentioned in a recent piece regarding Coinbase having to police its users’ gambling activity, having to deal with the various regulations of multiple jurisdictions is a minefield, particularly for Bitcoin businesses, whose models are theoretically border-agnostic. Still, if a Bitcoin payments processor wants to attract customers in the US, it has to abide by relevant US laws, as court cases have demonstrated. And if it would rather avoid those headaches, then it has to come up with creative workarounds to disqualify it from US jurisdictions. That is the very basic summary of the Bitcoin....
Does distributed presence create distributed liability? Does participation in a blockchain based decentralized autonomous organization (DAO) subject you to worldwide liability? While a one-sized fits all rule isn't possible, it may help to understand what jurisdiction means and how Courts acquire it.[1] (If you're trying to understand why this even matters, you'll find this author's views on the subject in an earlier post titled "How to Sue a DAO"). 1. What is jurisdiction anyway? Jurisdiction refers to a Court's authority to apply laws to disputes between parties and to do so in....
The CFTC's fintech wing has published its fourth primer, this time on digital assets. LabCFTC, the fintech-focused office of the Commodity Futures Trading Commission, has published a new intro to digital assets. The "Digital Assets Primer" is dated Dec. 15 but was announced Dec. 17. It includes basic definitions and overviews of digital asset markets, as well as a handy breakdown of the role of the CFTC and other regulators in establishing rules for these markets. The latest primer joins three others released over the course of LabCFTC's lifespan. The earlier, from October 2017, focuses on....
A U.S. federal judge ruled to dismiss a case against crypto firm Bancor, citing lack of personal jurisdiction and the plaintiff’s failure to prove losses. A federal district court in the United States has dismissed a securities fraud class action against Israel-based cryptocurrency firm Bancor.U.S. district judge Alvin Hellerstein ruled on Monday to dismiss a case against Bancor, stating that plaintiffs had failed to allege losses as well as citing lack of personal jurisdiction. The judge has also canceled an oral argument scheduled for March 4, 2021, entering judgment in favor of the....
The future is now. Both Stripe and Primer joined forces with OpenNode for separate payment solutions. The Stripe App will allow companies to “instantly convert any amount of their balance in Bitcoin or automatically convert incoming payments in part or full.” For their part, online and meatspace merchants across the UK will have the option […]