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Virtual Currency Blog

Bitfinex Didn't Fight The CFTC Regulations, Which Catalyzed A Security Breach

Bitfinex was recently hacked resulting in the theft of approximately 119,756 bitcoins. In June 2016, the CFTC issued an order against Bitfinex to protect consumers and comply with law and regulations, but achieved an opposite result.

Media Scare Tactic: Tying Virtual Currency to Violence

Media and governments are acting irresponsibly in tying virtual currency to recent wave of violent attacks.

Holdout Exchanges Must Promptly Deliver ETC to Their Customers

The Ethereum hard fork has created two Ethereum blockchains and two forms of Ether tokens. The exchanges that have not yet distributed to their customers Ether tokens for the Ethereum Classic blockchain are already risking substantial legal consequences.

Ethereum Smart Contracts Satisfy the Statute of Frauds

Ethereum Smart Contracts will ensure that contracts can easily be reduced to a signed writing that will satisfy the statute of frauds and reduce unnecessary litigation.

European Union to Add Virtual Currency to Strict Anti-Money Laundering Directive

The AML Proposal, which would add virtual currency exchanges and custodial wallet providers to the existing AML framework, to “ensure increased transparency of financial transactions and of corporate entities,” requires exchanges and wallet providers to collect and monitor personal customer information as well as report suspicious transactions.

Litigation Resulting from Ethereum Hard Fork Unlikely

Today the Ethereum community reached a consensus and implemented a successful “hard fork” of the Ethereum blockchain, which provides for the return of funds that were previously lost as a result of the exploitation of the DAO. There will unlikely be any legal consequences resulting from the implementation of this hard fork.

Etherindex LLC Files SEC Prospectus for First Ether-Based ETF

EtherIndex LLC filed a Registration Statement and Prospectus with the SEC to offer an exchange traded fund based solely on the price of Ether. Actions like this continue to cement Ether’s standing in the Virtual Currency Community.

Is Now the Time for California to Regulate Virtual Currency Businesses?

A review of virtual currency legislation in California.

Virtual Currency Legislation on the Horizon

The US government has provided guidance on the treatment of virtual currencies, which has resulted in controversy. However, new legislation is on the horizon which will have a positive effect on Ether and Bitcoin prices.

The China Effect and Ethereum

Throughout history, currencies have evolved in conjunction with technological and economic advancements.