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JUST IN: 🇮🇳 #Bitcoin and crypto are "not illegal" in India, India's Economic Affairs Secretary confirms !💥 #Binance #masters #bearorbull #legal
#Binance.US has added George Canellos, a former co-director of the #SEC’s enforcement division, to its #legal defense team to help defend it against charges brought against it by the #regulator .
Kudos to this decision
Kudos to this decision
JUST IN: 🇨🇳 Chinese court declares crypto legal property protected by law.
#crypto2023 #legal #cryptocurrency #bitcoin #bullish
#crypto2023 #legal #cryptocurrency #bitcoin #bullish
Matter Labs CEO Alex Gluchowski has proposed an intriguing concept for an Ethereum court system that resembles a hierarchical court system found in the real world. Here are the key points of his proposal:
1. **Ethereum Supreme Court**: Gluchowski suggests the creation of an 'Ethereum Supreme Court' that would serve as the final authority for resolving disputes related to smart contracts. This court would act as the ultimate arbiter in Ethereum's ecosystem.
2. **Hierarchical System**: The proposed system would consist of a hierarchy of on-chain courts, with each court handling disputes and emergency upgrades within its scope. The top of this hierarchy would be the 'Court of Final Appeal,' implemented as an Ethereum layer-1 soft fork.
3. **Protocol Governance**: Each protocol in Ethereum's ecosystem would have its own governance structure, including mechanisms for normal and emergency upgrades. A special contract would be designated for triggering appeals in case of disputes.
4. **Appeal Process**: When an emergency upgrade occurs, an appeal period would follow, allowing any user to challenge the decision by submitting an appeal to the higher court. To initiate an appeal, the challenger would need to provide a pre-defined bail deposit. Each court would specify the higher court to which appeals can be made.
5. **Social Consensus**: Gluchowski acknowledges that a strong social consensus would be crucial for the effectiveness of this on-chain #court system. It would be designed to handle only 'truly extraordinary' cases.
6. **Alternative Solutions**: While there are #existing solutions for resolving disputes in the crypto space, Gluchowski believes that they are not as effective as the proposed hierarchical court system.
This proposal aims to provide a #formal and structured mechanism for resolving disputes and making decisions within the Ethereum ecosystem, potentially reducing the need for traditional #legal processes in some cases. However, its #success would depend on achieving broad consensus and addressing the associated challenges.
$ETH $BNB $SOL
1. **Ethereum Supreme Court**: Gluchowski suggests the creation of an 'Ethereum Supreme Court' that would serve as the final authority for resolving disputes related to smart contracts. This court would act as the ultimate arbiter in Ethereum's ecosystem.
2. **Hierarchical System**: The proposed system would consist of a hierarchy of on-chain courts, with each court handling disputes and emergency upgrades within its scope. The top of this hierarchy would be the 'Court of Final Appeal,' implemented as an Ethereum layer-1 soft fork.
3. **Protocol Governance**: Each protocol in Ethereum's ecosystem would have its own governance structure, including mechanisms for normal and emergency upgrades. A special contract would be designated for triggering appeals in case of disputes.
4. **Appeal Process**: When an emergency upgrade occurs, an appeal period would follow, allowing any user to challenge the decision by submitting an appeal to the higher court. To initiate an appeal, the challenger would need to provide a pre-defined bail deposit. Each court would specify the higher court to which appeals can be made.
5. **Social Consensus**: Gluchowski acknowledges that a strong social consensus would be crucial for the effectiveness of this on-chain #court system. It would be designed to handle only 'truly extraordinary' cases.
6. **Alternative Solutions**: While there are #existing solutions for resolving disputes in the crypto space, Gluchowski believes that they are not as effective as the proposed hierarchical court system.
This proposal aims to provide a #formal and structured mechanism for resolving disputes and making decisions within the Ethereum ecosystem, potentially reducing the need for traditional #legal processes in some cases. However, its #success would depend on achieving broad consensus and addressing the associated challenges.
$ETH $BNB $SOL
#Uniswap founder Hayden Adams is pleased with the dismissal of a class action lawsuit that accused the platform of #token sales fraud. The dismissal was based on the judge's ruling that the software cannot be held accountable for user losses or third-party damages. Adams views the judge's comments as well-reasoned and considers this #legal outcome significant for Uniswap, relieving it of #potential liability for #fraudulent tokens on its platform.
$UNI
$UNI
Can Bitcoin Argentina's Proposal Preserve Crypto Trust and Decentralization? 🇦🇷
Bitcoin Argentina, previously against crypto #regulation , now proposes a bill to regulate while preserving decentralization and trust.
Presented by President Ricardo Mihura, the framework categorizes platforms, emphasizing property rights. #Decentralized and willing-to-dialogue platforms operate freely; courts determine decentralization.
Mihura rejects outright bans, citing the global nature of blockchain. The bill aims to offer the best #legal protection to citizens, addressing dishonest actors in the crypto space.
This proposal precedes Argentina's presidential election amid economic challenges, positioning regulation as a nuanced solution.
#Binance
#crypto2023
Bitcoin Argentina, previously against crypto #regulation , now proposes a bill to regulate while preserving decentralization and trust.
Presented by President Ricardo Mihura, the framework categorizes platforms, emphasizing property rights. #Decentralized and willing-to-dialogue platforms operate freely; courts determine decentralization.
Mihura rejects outright bans, citing the global nature of blockchain. The bill aims to offer the best #legal protection to citizens, addressing dishonest actors in the crypto space.
This proposal precedes Argentina's presidential election amid economic challenges, positioning regulation as a nuanced solution.
#Binance
#crypto2023
NFT Artists Ordered to Pay $1.57 Million to Bored Ape Yacht Club Creator? 🥶
In a significant #legal ruling, NFT artists Ryder Ripps and Jeremy Cahen were ordered by a US district court judge to pay Bored Ape Yacht Club (BAYC) creator Yuga Labs $1.57 million in disgorgement and damages, along with legal fees.
This case stemmed from Yuga Labs' claim that the defendants violated #copyright laws by creating copycat versions of its BAYC NFT collectibles.
The judge awarded Yuga Labs $1.37 million in disgorgement of the defendants' profits and an additional $200,000 in statutory damages for cybersquatting violations. The judge also deemed the trademark infringement an "exceptional case," entitling Yuga Labs to recover attorney fees and costs from the NFT artists.
The defendants' argument that their actions were "satire" and "parody" was rejected by the judge, who ruled that they intentionally infringed on BAYC #trademarks with the intent to profit. Despite a legal battle that began in June 2022, the artists continued to market and promote their copycat BAYC versions after a partial summary judgment against them in April.
This case underscores the legal complexities surrounding NFTs and intellectual property rights in the digital space.
#Binance
#crypto2023
In a significant #legal ruling, NFT artists Ryder Ripps and Jeremy Cahen were ordered by a US district court judge to pay Bored Ape Yacht Club (BAYC) creator Yuga Labs $1.57 million in disgorgement and damages, along with legal fees.
This case stemmed from Yuga Labs' claim that the defendants violated #copyright laws by creating copycat versions of its BAYC NFT collectibles.
The judge awarded Yuga Labs $1.37 million in disgorgement of the defendants' profits and an additional $200,000 in statutory damages for cybersquatting violations. The judge also deemed the trademark infringement an "exceptional case," entitling Yuga Labs to recover attorney fees and costs from the NFT artists.
The defendants' argument that their actions were "satire" and "parody" was rejected by the judge, who ruled that they intentionally infringed on BAYC #trademarks with the intent to profit. Despite a legal battle that began in June 2022, the artists continued to market and promote their copycat BAYC versions after a partial summary judgment against them in April.
This case underscores the legal complexities surrounding NFTs and intellectual property rights in the digital space.
#Binance
#crypto2023
Is Torrevieja Becoming Europe's First Crypto-Friendly City? 🏙️
#Torrevieja , a tourist hub in Spain's Alicante province, aims to lead Europe in cryptocurrency adoption.
Collaborating with local merchants, the city plans to digitize commerce using blockchain technology. Customers will soon pay with cryptocurrencies for goods and services.
The initiative also includes environmental conservation efforts and job creation in the tech sector. The move aligns with Spain's openness to the #crypto industry, evidenced by a significant increase in registered crypto companies.
However, cryptocurrencies aren't #legal tender in Spain, and new tax laws require residents to declare digital assets.
#Binance
#crypto2024
#Torrevieja , a tourist hub in Spain's Alicante province, aims to lead Europe in cryptocurrency adoption.
Collaborating with local merchants, the city plans to digitize commerce using blockchain technology. Customers will soon pay with cryptocurrencies for goods and services.
The initiative also includes environmental conservation efforts and job creation in the tech sector. The move aligns with Spain's openness to the #crypto industry, evidenced by a significant increase in registered crypto companies.
However, cryptocurrencies aren't #legal tender in Spain, and new tax laws require residents to declare digital assets.
#Binance
#crypto2024
- **Alameda Research Lawsuit against Grayscale:**
Alameda Research is expanding its #lawsuit against Grayscale Investments, seeking additional plaintiffs to join the case. Over 45 parties, consisting of individuals, funds, and family offices, are willing to participate as plaintiffs.
- **Lawsuit Background:**
The initial lawsuit was filed by #Alameda Research in March 2023 against Grayscale Investments, Digital Currency Group (DCG), and DCG CEO Barry Silbert. Alameda alleged that Grayscale's fee structure and redemption ban on its Bitcoin and Ethereum trusts resulted in a 90% reduction in the value of Alameda's shares.
- **Participation Interest:**
Alameda Research submitted a motion to the Delaware Court of Chancery, revealing the interest of more than 45 parties to join the lawsuit as additional plaintiffs. This suggests a growing #support base for the #legal action.
- **Implications:**
The increased number of potential plaintiffs strengthens the case against #Grayscale Investments and DCG, indicating a potentially broader legal challenge to the alleged practices affecting the value of Alameda Research's shares.
$BNB $BTC $SOL
Alameda Research is expanding its #lawsuit against Grayscale Investments, seeking additional plaintiffs to join the case. Over 45 parties, consisting of individuals, funds, and family offices, are willing to participate as plaintiffs.
- **Lawsuit Background:**
The initial lawsuit was filed by #Alameda Research in March 2023 against Grayscale Investments, Digital Currency Group (DCG), and DCG CEO Barry Silbert. Alameda alleged that Grayscale's fee structure and redemption ban on its Bitcoin and Ethereum trusts resulted in a 90% reduction in the value of Alameda's shares.
- **Participation Interest:**
Alameda Research submitted a motion to the Delaware Court of Chancery, revealing the interest of more than 45 parties to join the lawsuit as additional plaintiffs. This suggests a growing #support base for the #legal action.
- **Implications:**
The increased number of potential plaintiffs strengthens the case against #Grayscale Investments and DCG, indicating a potentially broader legal challenge to the alleged practices affecting the value of Alameda Research's shares.
$BNB $BTC $SOL
Is El Salvador's $1 Million Bitcoin Visa Program Changing How People Get Citizenship? 💳
El Salvador launched a unique $1 million Freedom #Visa program tied to Bitcoin, attracting hundreds of inquiries and dozens of applications within days of its December 7 launch.
The initiative offers residency and a citizenship pathway to 1,000 individuals donating $1 million in Bitcoin or Tether.
Despite criticism of its price compared to other programs, El Salvador's National Bitcoin Office defends it as reasonable, emphasizing the nation's pro-Bitcoin #policies .
President Nayib Bukele's initiatives, including recognizing Bitcoin as #legal tender and removing taxes for Bitcoin investors and tech firms, might lure prospective applicants despite the high cost.
#Binance
#crypto2023
El Salvador launched a unique $1 million Freedom #Visa program tied to Bitcoin, attracting hundreds of inquiries and dozens of applications within days of its December 7 launch.
The initiative offers residency and a citizenship pathway to 1,000 individuals donating $1 million in Bitcoin or Tether.
Despite criticism of its price compared to other programs, El Salvador's National Bitcoin Office defends it as reasonable, emphasizing the nation's pro-Bitcoin #policies .
President Nayib Bukele's initiatives, including recognizing Bitcoin as #legal tender and removing taxes for Bitcoin investors and tech firms, might lure prospective applicants despite the high cost.
#Binance
#crypto2023
Can El Salvador Rise to Become the 'Singapore of the Americas'? 🇸🇻
El Salvador's potential for economic growth is compared to #Singapore by VanEck's strategy advisor, Gabor Gurbacs.
He anticipates increased capital investment and immigration as key drivers for this growth. This observation is in response to a post by Max Keiser, who praises El Salvador for its adoption of #bitcoin , the use of the U.S. dollar as legal tender, reduced crime, beautiful beaches, and excellent coffee.
El Salvador, with President Nayib Bukele's leadership, has seen impressive returns on its sovereign bonds and gained recognition from major investment banks.
The country has embraced Bitcoin as #legal tender and invested in Bitcoin mining. Additionally, tax exemptions for technology innovations may attract more foreign entrepreneurs and capital.
#Binance
#crypto2023
El Salvador's potential for economic growth is compared to #Singapore by VanEck's strategy advisor, Gabor Gurbacs.
He anticipates increased capital investment and immigration as key drivers for this growth. This observation is in response to a post by Max Keiser, who praises El Salvador for its adoption of #bitcoin , the use of the U.S. dollar as legal tender, reduced crime, beautiful beaches, and excellent coffee.
El Salvador, with President Nayib Bukele's leadership, has seen impressive returns on its sovereign bonds and gained recognition from major investment banks.
The country has embraced Bitcoin as #legal tender and invested in Bitcoin mining. Additionally, tax exemptions for technology innovations may attract more foreign entrepreneurs and capital.
#Binance
#crypto2023
Why is Crypto Adoption Slow in El Salvador Despite Pro-Crypto Efforts? 🇸🇻
El Salvador, the only country embracing crypto as #legal tender, faces low crypto ownership despite its government's pro-crypto policies.
A recent CoinGecko report revealed that only 1.72% of the population owns Bitcoin, with 109,175 individuals out of 6.36 million. This ranks El Salvador 55th in global crypto adoption, lagging behind nations with bans on crypto like China, where 4.08% of the population (58 million people) own digital assets.
Despite President Nayib Bukele's announcement of $131 million in Bitcoin investments with a $3.6 million profit as of December 4, the country continues to see relatively slow #adoption rates.
To encourage investment, El Salvador launched a #citizenship-by-investment initiative, offering residency visas and citizenship to those investing $1 million in Bitcoin or Tether within the nation.
#Binance
#crypto2023
El Salvador, the only country embracing crypto as #legal tender, faces low crypto ownership despite its government's pro-crypto policies.
A recent CoinGecko report revealed that only 1.72% of the population owns Bitcoin, with 109,175 individuals out of 6.36 million. This ranks El Salvador 55th in global crypto adoption, lagging behind nations with bans on crypto like China, where 4.08% of the population (58 million people) own digital assets.
Despite President Nayib Bukele's announcement of $131 million in Bitcoin investments with a $3.6 million profit as of December 4, the country continues to see relatively slow #adoption rates.
To encourage investment, El Salvador launched a #citizenship-by-investment initiative, offering residency visas and citizenship to those investing $1 million in Bitcoin or Tether within the nation.
#Binance
#crypto2023
Will President Milei's Bitcoin Support Tackle Argentina's Inflation Crisis? 🇦🇷
In #Argentina 's run-off presidential election, Javier Milei secured a victory, tallying over 55% of votes with 99% counted, triumphing over Sergio Massa. Massa conceded with nearly 3 million votes separating them before official results.
Milei, critical of Argentina's central bank, blames it for inflation, advocating for private sector control, praising Bitcoin as a return to genuine monetary ownership.
However, he hasn't proposed Bitcoin as #legal tender. Massa's approach differs, favoring a central bank digital currency to combat inflation, contrasting with Milei's stance. Despite winning the initial round, Massa couldn't secure outright victory, necessitating the run-off vote.
Milei's win in the primary #election set the stage for his presidency, which begins on December 10 amid Argentina's persistent inflation crisis, signaling a potential shift in economic policy.
#Binance
#crypto2023
In #Argentina 's run-off presidential election, Javier Milei secured a victory, tallying over 55% of votes with 99% counted, triumphing over Sergio Massa. Massa conceded with nearly 3 million votes separating them before official results.
Milei, critical of Argentina's central bank, blames it for inflation, advocating for private sector control, praising Bitcoin as a return to genuine monetary ownership.
However, he hasn't proposed Bitcoin as #legal tender. Massa's approach differs, favoring a central bank digital currency to combat inflation, contrasting with Milei's stance. Despite winning the initial round, Massa couldn't secure outright victory, necessitating the run-off vote.
Milei's win in the primary #election set the stage for his presidency, which begins on December 10 amid Argentina's persistent inflation crisis, signaling a potential shift in economic policy.
#Binance
#crypto2023
