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"Despite the excellent legal representation that we developers have right now, the lawsuits still consume time and emotional energy, for some more, for some less,” the anonymous developer said. “Personally, I am not too much affected by the lawsuits, but I suspect for other developers it was one of many
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Authorities in Nigeria have been told to consider upgrading the country’s cryptocurrency regulatory guidelines because current regulations are not consistent with the realities on the ground. According to legal experts, the growing interest in cryptocurrencies by Nigerians means the country needs to have “clear-cut guidelines” for the industry. Nigerians Continue to
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Standard-setters say existing rules for lending securities should apply to crypto, too, noting they could’ve prevented Celsius-style messy breakups. Original Source
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A research project spearheaded by Australia’s government, financial institutions and universities is a significant step for the country in determining the potential of a central bank digital currency (CBDC), according to a Sydney-based attorney specializing in digital law. Source
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Though relatively minor trusts, any uncertainty surrounding this trio’s legal status – namely, whether they are securities – underscores the stakes of Grayscale’s regulatory gamble. Its trust business presumes these cryptos are not securities; if it determines otherwise, it says in the filings, it may have to pull the plug
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Things have not been looking too good for the crypto market in recent months, with the market seemingly being gripped by one piece of bad news after another. To this point, on Aug. 8, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued legal sanctions
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Lawyers representing Nathaniel Chastain, the former OpenSea product manager accused of insider trading, have claimed United States authorities only filed charges in an attempt to set a legal precedent that nonfungible tokens (NFTs) are securities.In a Friday filing with the Southern District of New York court, Chastain’s legal team from
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Celsius customers in nine U.S. states received a message from the firm back on April 15 stating that because they were not accredited investors, they would not be eligible for custody accounts. These customers were told that if they wanted to remain in the Earn program they could be grandfathered
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The Federal Reserve published an open letter Tuesday, signed by Director of Supervision and Regulation Michael Gibson and Director of Consumer and Community Affairs Eric Belsky, directing Fed-supervised banks to make sure they check that any crypto-related activities they want to undertake are legally allowed first. Source
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Typically there are macroeconomic factors that a country is looking to manage through the adoption of a currency as legal tender. In order to make Bitcoin legal tender, these factors should coincide with visionary leadership. Despite that, central banks are getting into digital currencies. There are countries with more
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