Tagged: lawsuit

Lawless, ill-Conceived, and Destabilizing of Financial Markets: New York Department of Financial Services Sues OCC Over Fintech Charter

Lawless, ill-conceived, and destabilizing of financial markets. While most level headed individuals will have the opinion this statement best describes the New York Department of Financial Services (NY DFS) and their anti-Fintech point of view, think again. This is how the DFS describes the Office… Read More

Silver-Miller Consolidates Multiple Class Action Suits Against Alleged Crypto Ponzi Bitconnect

Florida law firm Silver Miller has combined six class action cases against BitConnect into one case, and the case will be pursued in the U.S. District Court for the Southern District of Florida, Coindesk reports. Silver-Miller has asked for a jury trial. The case not… Read More

Seven More Russians Indicted in US for Alleged Crypto-Funded Spying

Seven more Russian spies have been indicted in the US, charged with multiple counts of attacking industrial, sports, anti-doping and anti-chemical weapons organizations across the world. The personal records of rival athletes were also targeted. Prosecutors in the Western District of Pennsylvania also claim the… Read More

Assets of Deceased Alpha Bay Dark Net Market Founder Forfeited in California Court

AlphaBay Market

All the known assets of Alexandre Cazes, a 34-year-old Quebcois accused of running the AlphaBay Marketplace, were forfeited in a default judgement by the US government in a California courtroom September 6th after no one appeared to contest the forfeiture, court documents indicate. The assets,… Read More

“The Case Will Proceed to Trial”:  Taking the RECoin / Diamond & Other ICO Actions One Step at a Time

The Jury by John Morgan Trial Court Judge Law

As has been reported widely, digital token sales (sometimes referred to as initial coin offerings or ICOs) arguably are becoming increasingly important as a new form of capital raising.  To date, certain regulators (including the U.S. Securities and Exchange Commission (the “SEC”)) have provided ongoing… Read More

State Bank Regulators Look to Pick Another Fight with OCC on Fintech Charter with Renewed Litigation

According to a post on the Conference of State Bank Supervisors (CSBS), the group is gearing up for more litigation pertaining to the renewed push by the Office of the Comptroller of the Currency (OCC) and their Fintech Charter. The CSBS is a national lobbying… Read More

Ripple’s General Counsel Departs in Midst of Lawsuits

The lawyer Brynly Llyr will be leaving her post as Lead Counsel at remittance company Ripple, a Ripple spokesperson has confirmed to Quartz: “We’re grateful for all that she did to help build an incredible team…(and) wish Brynly all the best in her next endeavor…(T)he… Read More

Vancouver Judge Orders Man Who Claims He Lost Employer’s Crypto to Turn Over “Dead” Computer, Does Not Freeze Assets

A judge in Vancouver, BC has ordered Jason Bradley Arnold, a former COO at the Shair.com marketing firm, to hand over his purportedly “dead” laptop as well as access to his digital currency wallets. Judge Ronald Skoolrod, however, refused to order “a Mareva injunction” in… Read More

What Does the Class Action Lawsuit Against the Unikrn ICO Mean for Other Token Issuers Who Used Reg D?

Last week, CI reported on a class action lawsuit filed against Unikrn and their initial coin offering (ICO). The company raised approximately $30 million in an ICO in late 2017. Unikrn was founded by Rahood Sahul, who is no neophyte when it comes to tech and venture capital…. Read More

Even with a Reg D Filing, Unikrn ICO Hit with Class Action Lawsuit Filed by Stritmatter Law Firm

Unikrn, a blockchain based gaming platform that is associated with some big name backers like Mark Cuban, has been hit with a lawsuit filed in the Superior Court of Washington for King County this week. The allegation that the Unikrn initial coin offering (ICO) constituted… Read More

Playboy Sueing Canadian Crypto Company for Breach of Contract

Playboy Enterprises, the company that publishes the famous nude magazine, is suing a Vancouver-based crypto tech and investment company for fraud and breach of contract, The Los Angeles Times reports. Playboy claims that Global Blockchain Technologies (GBT) has failed to follow through on an agreement to,… Read More

Class Action Claiming Ripple Sold Unregistered Securities Will Be Tried in US Federal Court

A motion by plaintiffs in a class action suit against Ripple Labs to keep the case in California courts was denied this week by a judge. The case will now move to federal court. Lawyers for class action plaintiff Ryan Coffey filed the suit against… Read More

Tezos Class Action Suit Will Proceed with Crypto Investor Tim Draper and Bitcoin Suisse Exempted

Two defendants in a class action suit against the beleaguered but rich blockchain project Tezos have been exempted by a judge, though the case will proceed against the Tezos Foundation and DLS. The decision by California Northern District Judge Richard Seeborg was filed yesterday in… Read More

YouTube Named in Class Action Against Bitconnect

  Youtube, “failed as a gatekeeper to protect its users,” by allowing affiliates of the Bitconnect cryptocurrency ponzi scheme to post 70 000 hours of promotional video, lawyers for plaintiffs in a class action claim. Bitconnect used multilevel marketing to boost operations and several Bitconnect… Read More

Sentencing of Los Angeles LocalBitcoins Seller Delayed

A LocalBitcoins seller, known as “Bitcoin Maven,” who plead guilty to running an unregistered money transmission business and laundering drug money for Bitcoin, had her sentencing postponed yesterday at a federal court in LA. As part of a pre-indictment plea agreement, Theresa Tetley, 50, pleaded… Read More

Report: Centra Tech Founders Plead Not Guilty in Alleged Fraud ICO

A note by Law360 indicates that defendants Sohrab “Sam” Sharma and Robert Farkas, co-creators of Centra Tech and an affiliated initial coin offering (ICO), have pleaded not guilty in the US District Court Southern District of New York. The Centra Tech ICO reportedly raised over $32… Read More

Proposed Brand-Overlap Lawsuit Against Bitcoin Cash Dropped

A proposed lawsuit by (standard) Bitcoin users against the Bitcoin Cash-controlled website Bitcoin.com and it’s CEO Roger Ver has been dropped. Ver, one of the most dedicated and high profile early adopters of Bitcoin, and several partners (including Jihan Wu, owner of the world’s largest… Read More

Cryptocurrency Ripple Facing Class Action Lawsuit Alleging Violation of US Securities Law

Ripple Labs, the company behind the cryptocurrency Ripple (XRP), are facing a class action lawsuit filed by an investor, Ryan Coffey, who alleges the company sold it’s cryptocurrency tokens to the public in violation of US securities laws. The filing also claims the company has… Read More

LocalBitcoins Seller in Crisis as He Considers Taking Plea Deal on Money Laundering Charges

Morgan Rockcoons, a once active LocalBitcoins seller and committed Bitcoin lifestyler, has tweeted that he is in crisis after being offered a deal from prosecutors to plead guilty to money laundering and unlicensed money transmission in exchange for a lighter sentence. Rockcoons perceives the charges… Read More

Bitcoin Users May Sue Bitcoin Cash CEO, Roger Ver, for Brand Overlap

Devoted “classic” Bitcoin network advocates claim they will soon be testing their brand confusion grievance against Roger Ver and Bitcoin Cash in court. Bitcoin (BTC) and Bitcoin Cash (BCH) have been engaged in a highly contentious rivalry ever since Roger Ver and associates “forked” (or… Read More

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