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Tether Claims to Be Okay With Merger of Class-Action Lawsuits Against It

News Currently facing multiple lawsuits, cryptocurrency stablecoin issuer Tether (USDT) received a request from prosecutors asking for consolidation, combining three lawsuits into one, which Tether has not denied. “We did not oppose the plaintiffs’ requests to combine these frivolous claims, origi..

Bitfinex Market Manipulation Lawsuit Refiled in New York and Joined by Second Case

News An Oct. 10 class-action lawsuit filed against iFinex Inc., the parent company of Bitfinex and Tether, was refiled on Jan. 8 in New York’s Southern District. The lawsuit by Young et al. was followed on the next day by a similar class-action filing by Bryan Faubus. The original lawsuit alleges ..

Authors of New York’s P2P ‘Public Venmo’ Bill Hope for Greater Decentralization

News New York lawmakers proposed a bill on a peer-to-peer (P2P) savings and payment platform called the “New York Inclusive Value Ledger.” Introduced by New York State Assembly legislator Ron Kim and Senator Julia Salazar, the bill proposes to set up the “empire state inclusive value ledger establ..

NY Governor Wants Crypto Firms to Cover Costs for NYDFS Oversight

News Cryptocurrency entities licensed under the New York’s Financial Services Law (FSL) should pay the costs of regulatory oversight, Governor Andrew Cuomo believes. The Democratic Governor purportedly wants the state authorities to amend the FSL in order to require virtual currency-related entiti..

Court Denies SEC Request to Make Telegram Reveal ICO Bank Records

News The District Court for the Southern District of New York has denied a request by the United States’ securities regulator to make Telegram reveal its bank records. According to a Jan. 6 court order signed by Judge P. Kevin Caste, the court has denied an application by the U.S. Securities and E..

New York Court Proceeds Against Man Allegedly Linked to OneCoin

News The New York Southern District Court granted a continuance in the lawsuit against David Pike over his alleged link to the OneCoin Ponzi scheme. Finance news outlet FinanceFeeds reported on Dec. 21 that the continuation of the case was approved until Jan. 12, 2020 based on court documents file..

Fidelity-Backed Startup Fireblocks Is Now Certified Secure by Ernst & Young

News New York-based digital asset security firm Fireblocks has successfully completed a major examination carried out by Big Four auditing firm Ernst & Young (EY). Fireblocks, which provides an institutional-grade platform for secure transfer of blockchain-based digital assets, received the Servic..

Crypto Firms Take Note: New York Regulator Wants to Change Up BitLicense Rules

In New York, the BitLicense business licensing rules have proven to be the bane of more than a few cryptocurrency firms over time. That reality has led to there being little support for the BitLicense in some circles of the space. That’s why many eyes widened in the crypto arena on December 11th wh..

SoFi Obtains BitLicense to Offer Crypto Trading Services in New York

News California-based financial firm SoFi has acquired a BitLicense from the New York State Department of Financial Services (NYDFS), the regulator said in a statement on Dec. 3. SoFi is now one of 24 crypto-related firms that have obtained a BitLicense since 2015, Bloomberg Law’s crypto reporter ..

Former CFTC Chair to Remain Focused on Crypto and Blockchain at New Law Firm

News Former United States Commodity Futures Trading Commission (CFTC) chairman Chris Giancarlo was hired as senior counsel at the New York-based law firm Willkie Farr & Gallagher. Digitize the dollar and take power away from central banksOn Dec. 2, Reuters reported that Giancarlo in his new role a..

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