bankruptcy court
SEC Raises Objections to Celsius Network's Restructuring Plan Involving Coinbase
The U.S. Securities and Exchange Commission (SEC) has filed a limited objection to the Chapter 11 restructuring plan of crypto lending platform Celsius Network. The objection, dated September 22, 2023, specifically targets the company's proposed arrangement with Coinbase for distribution services. The SEC is also currently engaged in a lawsuit against Coinbase, adding another layer of complexity to the situation.
Court approves BlockFi's disclosure statement conditionally
BlockFi Inc. and its affiliates announced that the United States Bankruptcy Court for the District of New Jersey conditionally approved the company's Disclosure Statement on August 2, 2023.
US Court Approves Sealed Settlement in BlockFi vs. 3AC Dispute
A US judge approved a confidential settlement between BlockFi and Three Arrows Capital, aiming to resolve financial disputes without further litigation. The details remain sealed to protect sensitive information amidst BlockFi's bankruptcy proceedings and its implications on the broader crypto market.
Former US Secret Service Officer Warns of FTX Customer Targeting Risk
Former US Secret Service officer Jeremy Sheridan has cautioned that the release of personal information of FTX customers could make them potential targets for identity and asset theft. Sheridan supported a motion from FTX debtors to withhold the confidential information of customers associated with the failed crypto exchange.
Shanghai High Court Pilots Blockchain Technology to Record Hearings for Court Reform
Shanghai’s high court has started using blockchain technology to record hearings as part of its court record reform pilot. During the meeting on the reform of court records, participants took part in observing the whole process of the court trial of a dispute over the equity transfer contract heard by the Shanghai Minhang District People’s Court.
17,000 Customers Claim Refund from Collapsed Canadian Crypto Exchange QuadrigaCX
Ernst & Young, the trustee of the now-bankrupt cryptocurrency exchange QuadrigaCX, published a report showing that almost 17,000 people have filed for the remaining assets of the crypto exchange. EY assumed control of the crypto exchange in February 2019 after QuadrigaCX filed for bankruptcy. Ernst & Young took over custody of QuadrigaCX’s assets following the alleged death of Gerald Cotton, the founder of QuadrigaCX, who held the private keys to the crypto holdings, in January 2019. The report indicates that as many as 16,959 people have claimed assets ranging from Litecoin, Bitcoin, Ethereum, Bitcoin Gold, Bitcoin SV, and Bitcoin cash, along with US dollars and Canadian dollars.
US Federal Court Defines Bitcoin As Money
A US Federal court has classified Bitcoin as a “money” under the Washington, D.C, Money Transmitters Act (MTA).
New York Supreme Court Declares NYAG has Jurisdiction over Bitfinex
The New York State Supreme Court ruled that the New York Attorney General (NYAG) has jurisdiction over the case with cryptocurrency exchange Bitfinex, regarding fraud allegations.
UK Court Recognized Cryptocurrency as Property in Freezing Order
In a property ownership tussle, UK high court found itself in the second attempt to recognize cryptocurrency as property. This time round, the court imposed a freezing order to crypto firm directors who failed to prove that they were not owners of the disputed cryptocurrencies.
India’s Crypto Bill Hearing Postponed by Supreme Court
The Indian supreme court has set a new date to hear the crypto case, which was originally scheduled for July 23. The purpose of the hearing was to address the writ petitions against the central bank’s crypto restriction.
Telegram Appeals Federal Court Injunction to Stop Gram Distribution
Telegram has filed an appeal to yesterday’s ruling by a United Stated federal court in favour of the US Securities and Exchange Commission (SEC) which has prohibited the issuance of Gram tokens for the time being.
Tokyo District Court Ordered Japan’s First Bitcoin Seizure
The Tokyo District Court has set a legal precedent for the cryptocurrency industry in Japan, by issuing the first Bitcoin seizure.
India’s Apex Court Postpones Cryptocurrencies Ban Hearing to November
Back in April 2018, the Reserve Bank of India released a press release prohibiting banks from providing financial services to individuals and corporate bodies dealing in cryptocurrencies. This move by the Reserve Bank of India has received many criticisms from several individuals and the High Court of Delhi as the ban clearly violates the constitution.
China’s Supreme Court Decides to Strengthen the Protection of Cryptocurrency Property Rights
The Chinese Supreme Court has decided to strengthen cryptocurrency property rights. China’s Supreme Court is looking to further protect property rights, including economic property rights through different ownership systems in accordance with the law.
Nordea Bank Ban on Staff Bitcoin Trading Upheld By Danish Court
A Danish court has ruled that Nordea Bank is within its rights to prohibit its employees from investing in Bitcoin and other cryptocurrencies.
Ripple’s First Court Date for SEC Lawsuit of XRP Tokens Set for February 2021
The official pre-trial court date for the US Securities and Exchange Commission’s lawsuit against Ripple for the sale of XRP tokens has been set.