Law

Law Decoded: Closing remarks on the future of crypto law, March 5

Editor’s note Ladies and gentlemen, it is bittersweet to welcome you to the final installment of Law Decoded, at least with yours truly at the helm. Though someone may pick this newsletter back up at some point, there are no plans to do so now. Taking advantage of the rose-tinted glasses or maybe the graduation …

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US crypto tax startup TaxBit to channel $100M raise into UK expansion

Major cryptocurrency tax compliance startup TaxBit has raised $100 million as it expands into Europe. According to a March 3 blog post, TaxBit has secured the funds in Series A round led by Paradigm and Tiger Capital. Additional investors included PayPal’s venture arm, major industry firms like Coinbase and Winklevoss Capital, as well as individual …

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Bitcoin needs clear regulations to be less volatile, Bridgewater analyst says

A senior analyst at asset management firm Bridgewater believes that regulation could potentially make Bitcoin (BTC) a good asset for institutional investors. Bridgewater director of investment research Rebecca Patterson claimed that regulatory certainty around Bitcoin would solve some of the cryptocurrency’s biggest problems associated with high volatility and low liquidity. In a Feb. 24 interview …

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Australian regulators open to Bitcoin ETF with ‘rules in place’

The Australian Securities and Investments Commission has clarified its position regarding Bitcoin (BTC)-linked exchange-traded funds.  According to a Feb. 12 report by the Australian Financial Review, the commission addressed the subject after previously rejecting a Bitcoin ETF initiative by local company Cosmos Capital. Per the report, Cosmos CEO James Manning claimed that ASIC “have a …

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Miami mayor aiming for ‘the most progressive crypto laws’

Francis Suarez, who has served as the mayor of Miami since 2017, wants to make the city the most attractive in the United States for those in the crypto and blockchain industry. In an interview with Forbes published Sunday, Suarez said lawmakers in Miami were looking into the policies of crypto-friendly areas like Wyoming and New …

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Serbian Man Extradited to US After Being Indicted In $70 Million Crypto Fraud

Serbia has extradited a man to the U.S. after he was indicted by a Dallas-based federal grand jury on allegations that he duped investors around the globe–several of whom are in northern Texas–out of more than $70 million. The scheme involved soliciting investments in binary options and cryptocurrency mining, the U.S. Department of Justice alleged.  …

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Russia’s regulatory sandbox and the implementation of blockchain tech

The main challenge companies face when testing and implementing innovative technologies is the need to amend existing legislation. Developing and testing new products based on distributed ledger technology requires special conditions that are often inconsistent with existing regulations. The solution to this problem would be the introduction of a special “regulatory sandbox” regime. It means …

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India will propose a law banning private cryptocurrencies like Bitcoin

Nicolas Economou/NurPhoto via Getty Images India may be the next country to clamp down on existing cryptocurrencies in favor of its own. As TechCrunch reports, India’s lower house of parliament has revealed plans to introduce a law that would ban “all private cryptocurrencies” in the country, including popular ones like Bitcoin. Instead, parliament would establish …

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Ripple ran crypto’s most expensive lobbying program in 2020

Ripple Labs spent $690K on lobbying in the U.S. in 2020, which still didn’t save the firm from the Securities and Exchange Commission. Per legally mandated disclosures for 2020, Ripple’s lobbying program dwarfed those of other firms in the crypto industry. Coinbase, which looks to become the first American crypto exchange to issue public shares, …

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FTC issues first fines using a law against ticket scalping bots

Cindy Ord/Getty Images Most live events simply aren’t an option due to the pandemic, but that isn’t stopping the FTC from cracking down on ticket scalper bots. The regulator has taken its first legal action using the Better Online Ticket Sales (BOTS) Act meant to punish these scalping practices. The owners of Concert Specials, Just …

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