Law

Russian court order removes Binance website from regulator’s blacklist

The website of the world’s largest cryptocurrency exchange, Binance, is no longer formally blacklisted in Russia, according to a new court ruling. According to a Jan. 21 report by Russian news agency Kommersant, the Arkhangelsk Regional Court has annulled a previous decision to blacklist the Binance website in Russia. Gleb Kostarev, Binance’s head of operations …

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Antitrust watchdogs around the world are going back to school to study blockchain and AI

Competition authorities are hitting the books when it comes to emerging technologies like blockchain and AI.  On Tuesday, the Department of Justice announced that it would be participating in a new initiative at Stanford University to onboard more advanced technological tools into its fight against monopolies. The DoJ is merely the most vocal addition to …

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Trump’s Clean Power Plan replacement gets thrown out by a court

Enlarge / DUNKIRK, NEW YORK, UNITED STATES – 10/09/2016: A NRG-owned coal-fired energy facility that plans to convert to a natural gas facility. John Greim / Getty Images Today, the US Court of Appeals for the District of Columbia vacated the Trump administration’s attempt to take a minimalist approach to the regulation of carbon dioxide …

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Treasury backs down: Crypto monitoring rule will wait until new administration

In response to a deluge of comments, the Treasury’s anti-money laundering office is slowing its roll on a rushed proposal to monitor a whole new range of cryptocurrency transactions. On Jan. 14, the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced that they were extending the window on comments in response to a rule originally announced …

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Law Decoded: Insurrections, transitions, monitoring transactions and 2021, Jan. 1–8

Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note January takes its name from Janus, the god of transitions and the guardian or the gates of Rome, looking always forward and backwards. So while this has been going on for over two millennia, …

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Social networks and the digital economy: A preview of IMVU’s VCOIN

When the Securities and Exchange Commission gave its blessing to social media platform IMVU to launch VCOIN, it was a major leap forward for acceptable scope of crypto applications.  The implications for what sorts of projects the SEC considers a security are, in and of themselves, huge. But part of the appeal of VCOIN to …

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OCC greenlights national banks to run nodes and stablecoin networks

Monday evening, the Treasury’s Office of the Comptroller of the Currency told national banks that they are allowed to run independent nodes for distributed ledger networks. Referring to of independent node verification networks, the OCC’s interpretive letter says that banks “may use new technologies, including INVNs and related stablecoins, to perform bank-permissible functions, such as …

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Congresspeople chastise the Treasury for rushing new crypto monitoring proposal

Nine congresspeople have signed on to a letter to Treasury Secretary Steven Mnuchin, telling him to hold his horses.  The Thursday letter is in response to the Treasury’s recent proposal to make registered crypto businesses hold on to more customer information, especially when transacting with self-hosted wallets. The proposal has been met with widespread outrage from the …

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FBI, Europol take down a VPN service aimed at criminals

Prykhodov via Getty Images Virtual private networks are often forces for good that keep your data secure, but how that service is offered appears to matter to law enforcement. TorrentFreak reports that the FBI and Europol worked together to shut down Safe-Inet (also known as Insorg), a VPN service apparently tailor-made for criminals. The “bulletproof” …

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A storm is brewing between state regulators and the OCC over fintech licensing

A leading association of state banking regulators is trying to put the U.S. national banking regulator in its place on the issue of fintech registration. Per a Dec. 22 filing, the Conference of State Bank Supervisors, or CSBS, says the impending approval of Figure Technology’s bank charter a bridge too far. Figure operates blockchain-backed lending and investment …

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