Bosnian court sides with Bitcoin miner in frozen bank account case
The second-largest Italian bank would have to pay $144 million in compensation to the mining farm, the judge rules. Italy’s second-largest bank UniCredit and the Bitcoin (BTC) mining farm Bitminer Factory have faced each other in the Bosnian city Banja Luka court, which decided that the bank improperly closed the company’s account and must compensate €131 million (about $144 million) to the plaintiff. As reported in La Repubblica on March 27, the court of Banja Luka held that a Bosnian branch of UniCredit didn’t have legitimate reasons to freeze the operations of Bitminer Factory Gradiska....
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Despite the sizable dilution, the RIOT stock price has not moved much at the time of publication. In a document filed with the United States Securities and Exchange Commission (SEC) on Thursday, Bitcoin (BTC) mining company Riot Blockchain announced that it would be selling up to $500 million worth of common stock to finance general corporate expenses, such as working capital, repayment of corporate obligations, capital expenditures and acquisitions, and investing in existing and future projects. After the offering, the company would have more than 139 million units of common stock....
A bitcoin trader has been complaining about how he had thousands of pounds of cash seized under legislation that is usually used to target drug dealers. Back in May, Max Flores a 27-year-old Bitcoin trader from Glasgow saw his Bank account frozen. He was then informed the account was being closed and was scheduled to come and collect his funds. Max went on to retrieve his funds and to understand what was happening but when he got there, he was stopped by the Scottish police who told him it was seizing his cash under proceedings of crime legislation. Max Flores commented: "The bank only....
Some Chinese bank clients, whose accounts were frozen in April, were injured while staging a protest at the Zhengzhou branch offices of the country’s central bank. Reports from local media outlets suggest that as much as $6 billion in client funds is missing and the individual believed to be behind the disappearance is now outside China.
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Chinese residents protesting the freezing of their accounts by three banks in Zhengzhou, are reported to have stormed the branch offices of the central bank on Sunday, July 10. Reports say some of the protestors....
According to the latest news from Reuters, the government of Cyprus, the Bank of Cyprus and international lenders have come to an agreement that will recapitalize the bank and allow it to remain solvent: all depositors at the bank will have 47.5% of all funds above the deposit insurance threshold of $100,000 seized to pay for the bank's bad debts. Originally, 37.5% of all funds above the threshold were deducted and an additional 22.5% temporarily frozen in case of additional emergencies; now, if this agreement goes as planned an extra 10% coming from the frozen funds will go towards bank....
The U.S. Securities and Exchange Commission (SEC) has won a court case against the blockchain-powered publishing platform LBRY. According to a New Hampshire district court ruling, Judge Paul Barbadoro agreed with SEC that the project’s native asset LBC was considered an investment contract or a transferable share representing a certificate of interest. On Twitter, LBRY said the language used to sway the court’s decision “sets an extraordinarily dangerous precedent.” U.S. Regulator Wins Judgement Against Decentralized Blockchain Platform LBRY According to court documents, the U.S.....