Bitcoin Is a Digital Asset Says Intermediate People’s Court in China

The Shanghai No. 1 Intermediate People’s Court publicly announced an appeal for a Bitcoin foreign property damage compensation dispute on May 6, according to Baidu news. 

The second Court trial’s findings indicated that Bitcoin is a digital asset and should be protected by the law. All Bitcoin obtained through illegal means should be returned or compensated at a discount,

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Researchers Design Blockchain-Based Digital Court In Japan

A group of researchers has devised a blockchain-based mechanism to perform legal functions in a so-called “digital court,” according to an April 6 announcement.

Professors Hitoshi Matsushima from the University of Tokyo, and Shunya Noda from the University of British Columbia, have been leading the project, which aims to settle legal disputes without the need for a “costly legal process.”

In the announcement,

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Singapore Appeals Court Rejects Quoine Appeal in Landmark Crypto Ruling

In the country’s first legal dispute involving cryptocurrency, the Singapore Court of Appeals has ruled that virtual currency exchange Quoine must pay damages to electronic market maker B2C2. The damages are for seven transactions that were wrongfully reversed on the platform during April 2017.

According to The Straits Times on Feb. 24,

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Indian PM Awards Crypto App Creator as Supreme Court Deliberates on Ban

India’s Prime Minister Narendra Modi awarded young entrepreneur Harshita Arora, the developer of a cryptocurrency price tracking application, amid an ongoing battle in her home country over the status of cryptocurrency.

In a tweet on Jan. 24, Modi said that Arora’s “passion towards science, technology and human welfare are clearly visible.” She received the Bal Shakti Puraskar 2020: an award recognizing youth’s contributions in the fields of social service,

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Decentralized Aragon Court Now Onboards Jurors to Settle Real Cases

Decentralized management platform Aragon One has begun onboarding jurors for its decentralized Aragon Court set to be launched in mid-February.

Per Aragon’s official website, the company developed a community governed decentralized organization, with the objective of operating as a digital jurisdiction and an online decentralized court. By rolling out Aragon Court, the team behind the project aims to eliminate “traditional artificial barriers such as national jurisdictions or the borders of a single country” when it comes to adjudicating disputes.

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Scale of OneCoin Scam Unravels Amid Ongoing Court Hearings

With each passing day, the financial nitty-gritty associated with the cryptocurrency-related OneCoin Ponzi scheme continues to become of increasing interest to members of the global crypto community. 

The U.S. government’s previous estimate of the scam that raked in a total of $4 billion seems to be well off the mark, as the figure could be more than three to four times the official estimate — this is according to Jamie Bartlett,

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Japanese Court Finds Ex-Mt. Gox CEO Guilty of Record Tampering

Mark Karpeles — the former CEO of the now-defunct Bitcoin (BTC) exchange Mt. Gox — has received a suspended jail sentence after being found guilty of tampering with financial records. The news was reported by Bloomberg on March 15.

The Tokyo District Court has reportedly found Karpeles guilty of mixing his personal finances with those of the exchange in order to conceal the platform’s losses to hackers.

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China’s Supreme Court Rules That Blockchain Can Legally Authenticate Evidence

China’s Supreme Court has ruled that evidence authenticated with blockchain technology is binding in legal disputes, in an official announcement released today, September 7.

The new ruling comes as part of a series of more comprehensive rules that clarify litigation procedures for internet courts across China, and comes into force immediately.

According to today’s announcement,

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US Court Seizes 81 BTC, Sends Bitcoin Trader to Jail for 41 Months for Money Laundering

News

A U.S. district judge has ordered a bitcoin trader to forfeit 81 bitcoins and sentenced him to 41 months in prison for money laundering. Thomas Mario Costanzo, also known as Morpheus Titania, sold bitcoins to undercover federal agents pretending to be drug dealers, according to the Department of Justice.

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Reserve Bank of India Urges Supreme Court to Regulate Crypto

India’s central bank, the Reserve Bank of India (RBI), has urged the country’s Supreme Court to regulate cryptocurrencies, local news outlet the Financial Express reports July 21.

In April of this year, the RBI announced it will stop providing services to businesses or persons dealing with cryptocurrencies, citing high risks.

The RBI’s senior advocate Shyam Divan told a bench led by Chief Justice Dipak Misra that it is necessary to regulate Bitcoin (BTC) and other cryptocurrencies since these “particular means” will “encourage illegal transactions.”

Divan also pointed out that the issue has “immense policy dimensions,” attesting that crypto has the potential to impact global money flows.

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Indian Central Bank Makes a Case Before Supreme Court Against Allowing Crypto Use

Regulation

India’s central bank told the country’s supreme court on Friday that “allowing dealings in cryptocurrencies like bitcoin would encourage illegal transactions.” Other crypto petitions being heard include one asking the government to “take emergency steps to restrain the sale and purchase of illegal cryptocurrencies.”

Also read: Yahoo!

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Indian Supreme Court Heard Crypto Petitions Today but RBI Ban Stays

Regulation

India’s Supreme Court heard the petitions against the crypto banking ban by the Reserve Bank of India (RBI) today. After hearing some arguments from both sides, the court decided to set another hearing date, allowing some of the regulators involved to respond to the petitions.

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India: Supreme Court Decision on Central Bank Crypto Dealings Ban Moved to September

The Supreme Court of India’s hearing on the central bank’s ban on crypto dealings, originally scheduled for July 20, has been moved to September, according to a July 19 Twitter post by a team of Indian lawyers involved in crypto regulatory analysis.

The Reserve Bank of India’s (RBI) crypto banking ban was implemented in early April of this year,

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India's Supreme Court Pushes Crypto Banking Ban Hearing to September

A Supreme Court decision on the Reserve Bank of India’s (RBI) efforts to bar cryptocurrency firms from receiving banking services will have to wait – for now.

A final hearing on the ban’s merits has been deferred to September 11, local news outlet Inc42 reported Friday. The panel of judges overseeing the case want all arguments and submissions from both the RBI and the ban’s critics to be submitted by that day.

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India’s Supreme Court Sets September Date for Final Cryptocurrency Petition Hearing


India’s Supreme Court has upheld the central bank’s directive of prohibiting banks from offering services to the domestic cryptocurrency sector following a hearing today.

On Friday, India’s Supreme Court held its latest hearing of the case against the Reserve Bank of India’s (RBI) circular forbidding all regulated financial institutions,

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