Brazil’s Senate approves ‘Bitcoin law’ to regulate cryptocurrencies

Brazil’s Senate has passed the country’s first bill governing cryptocurrencies in a plenary session, which will set the stage for the creation of a regulatory framework for the country’s crypto industry.  The bill must be approved by the Chamber of Deputies and then signed off by President Jair Bolsonaro to become law in the country. […]

Binance Denies Allegations It Shared Russian Users’ Data With Law Enforcement

According to Reuters, last April, Gleb Kostarev, Binance head of Eastern Europe and Russia, met with Russia’s anti-money laundering agency, Rosfinmonitoring (Rosfin). According to Kostarev’s messages reviewed by Reuters, he “consented to Rosfin’s request to agree to share client data,” telling a colleague he didn’t have “much of a choice,” the article said. Source link

Ukraine bans Bitcoin purchases with local currency amid martial law

The National Bank of Ukraine (NBU) continues taking measures to prevent capital outflows amid martial law by enforcing major restrictions on cryptocurrency purchases. The Ukrainian central bank officially announced Thursday a set of restrictions on cross-border operations, prohibiting individuals from buying cryptocurrencies like Bitcoin (BTC) with the national fiat currency, the hryvnia (UAH). Ukrainians are […]

Brazilian Senate announces incoming approval of the ‘Bitcoin law’

The bill regulating the cryptocurrency market in Brazil is expected to be approved by the National Congress in the first half of this year, according to Cointelegraph Brazil. The legislation, which has been debated in the Chamber of Deputies since 2015, has been approved in the first round of consideration. The Senate has attached it […]

US lawmakers introduce companion bill to ‘mitigate risks’ from El Salvador’s Bitcoin Law

Two members of the House of Representatives have introduced legislation aimed at mitigating the risks to the United States financial system due to El Salvador adopting Bitcoin (BTC) as legal currency. In a Monday announcement, California Representative Norma Torres and Arkansas Representative Rick Crawford proposed legislation that would direct the State Department to create a […]

Thibault Schrepel: Blockchain Code Can Fill in When Antitrust Law Fails

Thibault Schrepel is a Faculty Associate at Harvard University’s Berkman Klein Center for Internet & Society and Assistant Professor in Antitrust Law at Utrecht University School of Law. The COVID-19 crisis has increased our reliance on technology and reinforced the place of code in organizing society. This need not be a negative thing. As Ethereum […]

Law Enforcement Is Starting to Make Criminals Doubt the Dark Web

A new study revealed that the dark web marketplace users are starting to lose trust due to the authorities’ crackdown and “current volatility” within the landscape, which results in instability for the darknet sites to establish a fixed presence. According to cybersecurity company Trend Micro on June 7, crackdowns on marketplaces Dream Market, Wall Street […]

Bankruptcy Law Can Be Unclear When Crypto Custodians Go Belly Up

A paper recently published by the Law Faculty of the University of Oxford examines the legal risks of depositing cryptocurrency with custodians in the event of insolvency. The paper, featured in a June 1 blog-post by the faculty, also suggests ways that regulation and practice can help to mitigate this risk. Disintermediation failed Cryptocurrencies were […]

Albania Approves Europe’s Most Comprehensive Crypto Law Yet

Albania’s Parliament signed a bill into law on May 21 plenary session a legal framework for cryptocurrencies. The law, “On Financial Markets Based on the Technology of Distributed Ledgers,” first appeared before the Committee of Economy in October 2019 and was approved today with 88 votes in favor, 16 against and 3 abstentions. Introduced by […]

Bitcoin Cannot Be Protected by Chinese Law, Local Court Rules

As a virtual commodity, Bitcoin (BTC) cannot be protected by the Chinese law, a court in Fujian province reportedly ruled on May 13. Fujian court dismisses a Bitcoin-related lawsuit According to Fujian Rule of Law News, the court was considering a dispute involving an investment to a “Bitcoin-themed club”. The plaintiff, named Liao, allegedly invested […]