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US Federal Judge Rules My Big Coin a Commodity, CFTC Can Pursue Charges

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A U.S. federal judge has ruled that My Big Coin is a virtual currency meeting the definition of a commodity, which falls within the jurisdiction of the Commodity Futures Trading Commission (CFTC). This allows the regulator to pursue fraud charges involving the cryptocurrency. Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals Judge … Read more

US Judge Orders Alleged Hacker to Pay Bail in Cryptocurrency

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A US federal judge has ordered an alleged hacker to pay the equivalent of $750,000 in cryptocurrency for bail. The man was charged with hacking video game company Electronic Arts (EA), obtaining in-game currency used to buy and sell in-game items, and selling access to online games though black-market websites. Also read: Yahoo! Japan Confirms Entrance … Read more

Chinese Courts Face Hundreds of Crypto Cases, Struggle with Rulings

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Falling crypto prices have been blamed for a growing number of crypto-related legal disputes in China. Unclear regulations and unofficial restrictions are making it harder for courts to resolve these cases. Many of them involve cryptocurrency trading which is supposed to be banned in the People’s Republic, or is it? Also read: Malta Tops Exchange-Based … Read more

SEC Fines and Permanently Bars Founder of Fraudulent Oil Exploration Token

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The U.S. Securities and Exchange Commission (SEC) has taken action against an oil and gas exploration company and its founder who “perpetrated a fraudulent initial coin offering (ICO) to fund oil exploration and drilling in California.” The token sale failed to raise money but the tokens were issued as part of a bounty program, which … Read more