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According to reports the infamous Twitter handle and blogger, ‘Bitfinex’ed,’ has hired the well-known attorney Stephen Palley to fight against the legal threats posed against the blogger. The legal counsel for Bitfinex, Stuart Hoegner suggested this past December that the blogger may face a lawsuit as Bitfinex said it wasn’t too pleased with the allegations. … Read more
Running a major cryptocurrency exchange is a lucrative business. Coinbase is reported to have made over $1 billion last year, and Binance is on course to pull in $850 million annually. While the bulk of these profits come from trading fees, they’re not the only revenue stream: exchanges are also pocketing millions from the fees … Read more
This week the People’s Bank of China (PBOC) governor, Zhou Xiaochuan, spoke about both public and privately issued cryptocurrencies. Zhou details that the central bank dislikes “speculative cryptocurrency products” and the bank does not officially recognize digital currencies like bitcoin. Further Zhou explains the bank is monitoring projects like bitcoin and initial coin offerings (ICO), … Read more
Despite all the talk of increased regulation and looming lawsuits, ICOs seem immune. Many new tokens are struggling to trade above their ICO price on exchanges in the current bear market, but crowdsale allocations are still selling out. In February, ICOs raised $1 billion for the third month in a row. They’ll be sternly scrutinized … Read more
On Wednesday, March 7, the U.S. regulator the Securities and Exchange Commission (SEC) published a letter concerning the potential of unlawful online platforms that trade digital assets. The SEC is concerned with platforms operating without permission and advises investors to use entities that are registered with the SEC as an alternative trading system (ATS). Also … Read more
This month a law firm called Polsinelli LLP published a study called “Cryptocurrency Class Action Lawsuits: A New Frontier” which explains that initial coin offerings (ICO) will spark a large number of litigation proceedings against cryptocurrency projects and businesses. Also read: New Study Looks at the Cost to Mine BTC Across the Globe ‘ICOs May Be … Read more
In the cryptocurrency market today, there’s a wide variety of investors. But it wasn’t always like that. Between 2010-2016, the landscape was pretty uncomplicated. On a high level, there were only two distinct categories: 1, The ones who measured their wealth in fiat; 2, The ones who measured their wealth in bitcoin. Also read: Meet the TA … Read more
Commissioner for Financial Stability, Financial Services and Capital Markets Union, Valdis Dombrovskis of the European Union (EU), is urging a broader regulatory regime upon cryptocurrencies, and is threatening an EU move especially if there appears to be no global consensus on how to address the decentralized currency phenomenon. Also read: Bitcoin Futures Regulator Allows Employees to … Read more
According to regional reports, China’s police agency is allegedly monitoring cryptocurrency exchanges based outside of the country. An informant details that China’s Public Information Network Security Supervision task-force is closely watching both domestic and foreign trading platforms involved with cryptocurrencies to prevent fraud, pyramid schemes, and money laundering. Also Read: British Man in Amsterdam Allegedly … Read more
The U.S Securities and Exchange Commission is believed to have issued dozens of subpoenas to ICOs in its quest to uncover evidence of securities fraud. Not only has it come after the startups themselves, but it’s reported to have subpoenaed their legal counsel too, as it pursues lawyers who may have facilitated any potential wrongdoing. … Read more
