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| June 26, 2019

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Lawyers Say Alex Jones Sent Them Child Porn

June 18, 2019 |

A bizarre twist in the Sandy Hook lawsuit against Alex Jones: Lawyers for the families of school massacre victims say the Infowars host sent them child pornography in email files turned over as part of the defamation lawsuit, reports the Connecticut Post. The lawyers say they reported the images to…
Newser

Video Clears Disqualified Winner, Jockey’s Lawyers Say

May 11, 2019 |

Video evidence shows jockey Luis Saez wasn’t to blame for Maximum Security’s disqualification in the Kentucky Derby, the jockey’s lawyers say. They turned the video over to the Kentucky Horse Racing Commission on Friday, the Courier Journal reports. In fact, an attorney for Saez says it shows War of Will,…
Newser

Justice Is Telling Trump Lawyers the Big News

April 18, 2019 |

President Trump may not be too surprised by what’s in the soon-to-be-released Mueller report. Turns out the Justice Department has discussed it several times with White House lawyers, in effect helping them plan a counter-attack against Robert Mueller’s findings, insiders tell the New York Times . Meanwhile, Attorney General William Barr…
Newser

US Lawyers: Crypto Regulations Are ‘Tough Waters to Navigate’

February 9, 2019 |

"Patchwork" of US Cryptocurrency Regulations are "Tough Waters to Navigate"

In a recent interview, Matt Kohen and Justin Wales, two senior counsels working for Carlton Fields’ virtual currency and distributed ledger technology group, highlighted the challenges that legal practitioners and regulators face in interpreting United States regulations pertaining to cryptocurrency.

Also Read: Quadrigacx Saga: Founder’s Widow Owns $ 5.6m Properties, Hospital Confirms Cotten’s Death

Cryptocurrency Lawyers Emphasize Challenges of Current US Regulatory Apparatus

Kohen and Wales are currently working on a more than three-year case pertaining to a Florida-based Localbitcoins trader, Michell Espinoza, who is facing felony charges for running an illegal money service business and money laundering violations.

US Lawyers: Crypto Regulations Are 'Tough Waters to Navigate'

All charges were initially dropped against him when Judge Teresa Mary Pooler of the Eleventh Judicial Circuit of Florida ruled that Espinoza could not be charged with illegal money transmission offenses because bitcoin was not considered legal tender in 2016. Pooler’s ruling was recently overturned, however, highlighting the challenges associated with juridical apparatus pertaining to cryptocurrencies in the United States.

Regulators Need to Take ‘Holistic View’ of Legislative Classifications

Describing the current regulatory apparatus as a “patchwork,” Kohen emphasized the contradictions that regularly emerge between state and federal legislation. Kohen asserted that virtual currencies appear to comprise “something different to every agency,” adding that the “IRS can look at it as property like a gold bar. SEC gets to say we have a different view. Then you have state regulators who think a digital asset is a commodity or currency. It is tough waters to navigate.”

US Lawyers: Crypto Regulations Are 'Tough Waters to Navigate'

Wales added: “One of the potential issues is we have securities regulators viewing through a lifetime of experience looking at securities. CFTC is doing the same thing. State and money transmission officers doing the same thing. Tax regulators who do not know what to think of it, look at is as property because it does not look like money. Regulators need to spend more time with a holistic view of what these are.”

International Regulators ‘Struggling’ To Find Solution to Legislative Challenges

With regard to alternative regulatory frameworks developed by international regulators, Wales stated: “Every regulatory agency in every country is struggling to come up with a solution.”

Wales also observed that certain countries are viewing cryptocurrency as “an opportunity” and are implementing “relaxed guidelines,” in contrast with the often contradictory stance taken by U.S. agencies and lawmakers at state and federal level.

Which country do you think has implemented the best regulatory regime for cryptocurrencies? What changes would you like to see made to the current apparatus in the United States? Share your thoughts in the comments section below!


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Lawyers to Help the Russian Crypto Industry Deal With Inadequate Laws

December 16, 2018 |

Lawyers to Help the Russian Crypto Industry Deal With Inadequate Laws

In the absence of a comprehensive regulatory framework for cryptocurrencies in Russia, lawyers have taken matters into their own hands. A new advisory body of legal experts will look into cases where the current legislation does not reflect the specifics of the growing digital economy and propose solutions.

Also read: CEO of Romanian Exchange Coinflux Arrested on US Warrant

Legal Commission to Solve Problems Stemming From the Lack of Proper Rules

Lawyers to Help the Russian Crypto Industry Deal With Inadequate LawsDuring a round table discussion on these issues, the Russian Lawyers Association and an educational organization called Blockchain Lawyers have agreed to establish a specialized commission that will address the legal challenges in the crypto industry. It will also work with companies in other related sectors such as blockchain development, artificial intelligence, quantum technologies and the internet of things.

The commission’s main task will be to provide answers to outstanding questions and solve problems arising from the lack of proper crypto regulations, the Russian outlet Bitcrypto News reported. The participants in the round table expressed confidence that the new body will be able to give legal definitions to many new economic and technological phenomena in the digital space.

The members of the commission will help projects and organizations in the industry to overcome specific challenges. Some of them are related to accounting and taxation, for example. The Russian government currently treats cryptocurrencies as “other property.” In the case of ICO tokens, however, the digital coins can also represent property rights. The problem is that the Russian tax code applies different rates to these two categories.

Lawyers to Help the Russian Crypto Industry Deal With Inadequate Laws

According to Mikhail Uspenskiy, partner at the law firm Taxology, keeping accounting records competently will be extremely difficult until Russian lawmakers finally adopt new laws to clearly define the legal nature of cryptocurrencies and tokens. However, the lower house of Russia’s parliament, the State Duma, has postponed the adoption of the legislation that was filed this past spring.

Russian Authorities Favor Conservative Approach to Crypto Regulation

Lawyers to Help the Russian Crypto Industry Deal With Inadequate LawsAfter introducing a number of changes to the original texts, Russian deputies eventually dropped several key terms such as “cryptocurrency” and “mining” from the main bill, the law “On Digital Financial Assets.” Representatives of the crypto industry protested against its latest version and even proposed their own, alternative bill that grants cryptocurrencies a “special status.”

In a recent statement, Russia’s deputy prime minister Maxim Akimov defended the conservative regulatory approach. Commenting on the recent market slump that decreased the capitalization of most decentralized cryptocurrencies, he also said that authorities in Moscow do not plan to introduce any more significant amendments to the draft legal framework.

During the round table, the legal experts discussed a number of other related topics such as the need to regulate law enforcement in the crypto industry and provide protection for the rights of cryptocurrency holders. The new commission is expected to deal with these issues as well. The body will operate within the Moscow regional branch of the Russian Lawyers Association.

What do you think of the idea to create a legal commission to support the growing Russian crypto industry? Share your thoughts on the subject in the comments section below.


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The post Lawyers to Help the Russian Crypto Industry Deal With Inadequate Laws appeared first on Bitcoin News.

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Lawyers: Flynn Made ‘Uncharacteristic Error in Judgment’

December 12, 2018 |

Lawyers Michael Flynn asked a judge Tuesday to spare him prison time, saying he had devoted his career to his country and taken responsibility for an “uncharacteristic error in judgment.” The arguments to the judge echoed those of special counsel Robert Mueller’s office, which last week said that Flynn’s cooperation—…
Newser

Michael Cohen’s Lawyers Ask for No Prison Time After Plea

December 2, 2018 |

Lawyers for Michael Cohen, President Donald Trump’s former personal lawyer, asked a federal judge in a memorandum filed late Friday night to impose no prison time for Mr. Cohen at his scheduled sentencing later this month, citing Mr. Cohen’s contrition and his cooperation with law enforcement.
WSJ.com: What’s News Asia

Korean Lawyers Lobby Government to Pass Several Cryptocurrency Laws

November 8, 2018 |

Korean Lawyers Lobby Government to Pass Several Cryptocurrency Laws

The Korean Bar Association, whose membership is mandatory for all lawyers in the country, has campaigned publicly for the government to pass a number of cryptocurrency-related laws. The group specifically proposes regulation for crypto exchanges, initial coin offerings, domestic and foreign crypto transactions, and cryptocurrency funds.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Lawyers Press Government for Crypto Laws

Korean Lawyers Lobby Government to Pass Several Cryptocurrency LawsThe Korean Bar Association on Thursday lobbied the government “to quickly establish a legal framework to help develop the blockchain-based virtual currency industry and protect investors,” Reuters reported.

“It is rare for the Korean Bar Association, membership of which is mandatory for all local lawyers, to campaign publicly for specific technological or business interest groups,” the news outlet noted.

At a press conference held at the National Assembly on Thursday, the president of the association, Kim Hyun, was quoted as saying:

We urge the government to break away from negative perceptions and hesitation, and draw up bills to help develop the blockchain industry and prevent side effects involving cryptocurrencies.

Korean Lawyers Lobby Government to Pass Several Cryptocurrency Laws
Representatives of the Korean Bar Association at the press conference on Thursday.

Crypto-Related Proposals

The Korean government is currently working on the legal framework for initial coin offerings (ICOs) which it banned in September last year “without disclosing legal grounds,” News1 wrote, elaborating:

The Korean Bar Association specifically proposed the direction of regulating cryptocurrency trading sites, ICOs, domestic and foreign cryptocurrency transactions, and cryptocurrency fund products.

The group urges the government to adopt clear legal legislation related to crypto exchanges to prevent activities such as wash trading, insider trading, and money laundering, Chosun explained.

Korean Lawyers Lobby Government to Pass Several Cryptocurrency LawsThe association also presses for regulations in accordance with the Foreign Exchange Transactions Act for domestic and foreign crypto transactions.

Furthermore, instead of prohibiting investments in cryptocurrencies, the group proposes permitting certain types of organizations with expertise and qualifications to trade them.

The association asserted:

Even in the United States, where regulations on securities are strict, the law permits fund operations using cryptocurrencies as an underlying asset and futures trading.

Security ICOs

Korean Lawyers Lobby Government to Pass Several Cryptocurrency LawsFor ICOs specifically, the association proposes applying the existing securities laws such as the Capital Markets Act or Financial Investment Business Act to security tokens, covering both domestic and foreign ICOs entering the Korean market, News1 detailed.

In addition, the group says the country’s Financial Services Commission (FSC) should “specify in advance the obligation to submit related documents such as a whitepaper” for ICOs of foreign companies entering the domestic market.

Meanwhile, FSC Vice Chairman Kim Yong-beom said on Wednesday that “The financial authorities will release the results of the actual initial coin offering situation this month.” The government is evaluating the outcome of its ICO survey conducted in September.

What do you think of the Korean Bar Association urging the government to pass these cryptocurrency-related laws? Let us know in the comments section below.


Images courtesy of Shutterstock, the Korean Bar Association, and Chosun.


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The post Korean Lawyers Lobby Government to Pass Several Cryptocurrency Laws appeared first on Bitcoin News.

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Citing Text From Accuser, Weinstein Lawyers Want Case Dismissed

November 5, 2018 |

Harvey Weinstein’s lawyers want the New York sexual assault case against him dismissed, the AP reports. In a court filing Monday, the former Hollywood producer’s attorneys said his indictment was “irreparably tainted by police misconduct ,” among other problems. Per Page Six and TMZ , those other problems involve one of Weinstein’s…
Newser

Professional Course Prepares Russian Lawyers for the Cryptocurrency Industry

November 3, 2018 |

Professional Course Prepares Russian Lawyers for the Cryptocurrency Industry

Russian companies have organized an enhancement course to prepare legal experts for the challenges of working in the cryptocurrency space. The oldest university of economics in the country, two law firms providing services to digital businesses, and both houses of parliament are behind the project to help lawyers understand the specifics of the industry.  

Also read: Arbitrators to Resolve Disputes in the Russian Cryptocurrency Industry

Lawyers to Study Cryptocurrencies, ICOs and Smart Contracts

The one-month educational program titled “Legal basis and practice of working with cryptocurrency and blockchain projects” is hosted by the Plekhanov University of Economics, the oldest and one of the largest business schools in the Russian Federation. It’s focused on matters related to the legislative regulation of the nascent industry as well as law enforcement practices in Russia and other jurisdictions.

According to Alexander Zhuravlev, managing partner at the Efficient Business Resources law firm and co-founder of the program, the successful completion of the course will allow jurists to work with blockchain products. Quoted by Politika Segodnya, he noted that the sixth edition of the course, starting Nov. 23, will cover cryptocurrencies, initial coin offerings (ICOs), digital asset exchanges, smart contracts, mining, and address the implementation of distributed ledger technologies in the private and public sector. Anti-money laundering (AML) practices and know your customer (KYC) procedures will be part of the curriculum as well.

Professional Course Prepares Russian Lawyers for the Cryptocurrency Industry

IT Technologia, a company providing legal advice to IT businesses, and the Russian parliament are also among the organizers of the program. They have invited a number of lecturers from different fields, including legal experts, academics and representatives of the business community like Gerbert Shopnik, CEO of the Russian branch of mining company Bitfury and Alexander Mikhailov, cofounder and director of Lavka Lavka, an organic food farmers’ cooperative and restaurant chain that has its own token.

As part of the “Blockchain Lawyers” course, participants will visit the State Duma and the Federation Council, the upper and lower house of Russia’s legislature, and introduce lawmakers to their own ideas about the regulation of the digital economy, including the cryptocurrency industry. The students will also have the opportunity to meet representatives of the Russian internet giant Mail.ru Group. The lawyers will join a community of experts working to improve the legal framework for the fintech sector which is still under development.

Russian Cryptocurrency Industry Remains Unregulated

Professional Course Prepares Russian Lawyers for the Cryptocurrency IndustryThe cryptocurrency space in Russia is still unregulated after the adoption of a package of three bills, approved on first reading in May, was postponed for the parliamentary session this fall.

Public discussions on the drafts are currently underway, with representatives of the crypto community criticizing the state-sponsored legal framework for not covering important aspects of the industry. Russian lawmakers removed key terms like cryptocurrency, mining and smart contracts from the texts of the main bill, the law “On Digital Financial Assets.”

The Russian Association of Cryptoindustry and Blockchain (RACIB) and the Russian Union of Industrialists and Entrepreneurs (RSPP) have put forward their own regulatory proposals. An alternative draft law prepared by the RSPP grants cryptocurrencies “special status.” The lawyers taking the enhancement course have been encouraged to share their professional opinions on the matter during the upcoming meetings with legislators in the State Duma and the Federation Council.

What do you think of the plan to educate legal experts on the specifics of the cryptocurrency industry? Share your thoughts on the subject in the comments section below. 


Images courtesy of Shutterstock.


Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we.

The post Professional Course Prepares Russian Lawyers for the Cryptocurrency Industry appeared first on Bitcoin News.

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