Law

US Government labels Virgil Griffith’s argument to dismiss sanctions charges ‘absurd’

Leave a Comment / Crimes, Law, North Korea, Regulation, Sanctions, United States / By

Lawyers representing the United States government have filed a legal memo opposing the dismissal of charges for Virgil Griffith, a former Ethereum Foundation researcher accused of conspiring to violate U.S. sanctions against the Democratic People’s Republic of Korea, or DPRK. According to court records filed Nov. 19 in the Southern District of New York, prosecutors’ …

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Law Decoded: Green lights of the SEC, black flags of Binance, Nov. 13–20

Leave a Comment / Binance, Cryptocurrency Exchange, Government, Law, SEC, US government / By

Editor’s no Amid a political news cycle that has been stuck in a nauseating loop, covering crypto is often refreshing. Partisan forces have yet to dig out the trenches. A lot of the current task is just getting working definitions in play.  Meanwhile, the technology advances at a mind-boggling rate, and there are still enough …

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Charged Aussie Bitconnect promoter faces up to 47 years in prison

Leave a Comment / Australia, BitConnect, Crime, Law, Ponzi Scheme, Regulation / By

The Australian Securities and Investments Commission, or ASIC, has charged the former Australian national representative of BitConnect for his involvement in the multi-billion-dollar crypto Ponzi scheme. According to a Nov. 17 statement from the ASIC, the commission — with assistance from the U.S. Federal Bureau of Investigation — has charged John Louis Anthony Bigatton for …

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How US authorities are using old AML tools to crack down on crypto

Leave a Comment / AML, Banking, Banks, Cryptocurrency Exchange, department of justice, Exchanges, FinCEN, KYC, Law, United States / By

The ease of laundering money in the U.S. before 1970 boggles the mind. Prior to the Bank Secrecy Act (BSA) of that year, there were no federal standards for banks to keep records on activity that fell under the category of “suspicious.” There were also no consistent reporting requirements — it was the BSA that …

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Swiss gov’t starts consultation process for blockchain laws

Leave a Comment / DLT, Government, Law, Switzerland / By

Switzerland’s Federal Department of Finance has initiated a consultation process for a blanket ordinance in the blockchain and distributed ledger technology space.  The consultation will happen among cantons, parties and other interested groups in this space. It is scheduled to continue for more than three months, ending on Feb. 2, 2021. This is a part …

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China’s revamped law bans online services that ‘induce addiction’ in kids

Leave a Comment / addiction, children, China, games, gear, Government, kids, Law, livestreaming, News, politics, Regulation, video games / By

Long Wei/VCG via Getty Images China is implementing stricture measures in its bid to keep kids away from addictive digital content. The state-backed news agency Xinhua reported (via Reuters) that China has voted for revamped law that will ban internet products and services which “induce addiction” in kids. Game creators, livestream services and social networks …

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UK closes loophole that allowed using your phone while driving

Leave a Comment / distracted driving, gear, Government, Law, mobile, News, politics, safety, smartphone, uk / By

monkeybusinessimages via Getty Images The UK is about to make it clear that you shouldn’t grab your phone while you’re driving — regardless of what you intend to do. The government is closing a legal loophole (via BBC) that allowed people to pick up their phones while driving as long as they weren’t calling or …

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Law Decoded: Police and thieves on their screens, Oct 2–9

Leave a Comment / BitMex, department of justice, Fraud, ICO, John McAfee, Law, McAfee, Police / By

Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note Historians typically date the birth of international policing as we know it today to the 1800s, a response to the explosion in nationalist movements and non-governmental political radicalism in Europe. Just as new linking …

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Indictments issued for BitMEX senior team are a signal to all

Leave a Comment / BitMex, Cryptocurrency Exchange, Exchange, Government, Law, United States / By

On the morning of Oct. 1, the United States government authorities in New York issued indictments for four of the senior team of BitMEX, the famed “wild card” exchange based in Hong Kong. Despite that, the crypto exchange still continues to operate its services.  BitMEX is one of the world’s largest crypto exchanges and has …

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Institutionalize crypto markets now: There must be compliance controls

Leave a Comment / Bermuda, Government, Law, malta, SEC, United States / By

Thanks to regulatory uncertainty from the United States Securities and Exchange Commission and a hodgepodge of state licensing requirements, the development of crypto trading in the U.S. remains stuck in the backwaters of trading reserved for Over-the-Counter Bulletin Board issues. In order to ensure the continued and healthy growth of digital asset markets, it is …

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