On March 11, the Tokyo Metropolitan Police arrested two people in connection with the $580m hack on cryptocurrency exchange Coincheck. The police revealed that the two men were found in possession of NEM cryptocurrency linked to the cryptocurrency stolen from the exchange in 2018.
The German Federal Financial Supervisory Authority (BaFin) has declared Bitcoin should be regarded as a financial instrument. The authority issued a guideline that clarifies the status of cryptocurrencies and associated regulations that govern businesses within the cryptocurrency sector.
The American government turned against its own word and offered to auction to the public stolen bitcoins it retrieved and held in custody. Although the US is among the fast developing countries in the world and a leader of technology, the US has been slow in legalizing bitcoin usage in the economy. For this reason many innovators fell on the wrong side of the law and got their assets frozen by the government.
Blockchain initiatives could get a 3-year immunity or grace period from U.S. securities laws to create distributed systems. As per the latest Safe Harbor application by Hester Peirce, U.S. SEC Commissioner.
The Russian Supreme Court has made it clear that “digital rights,” which is a term used to mean coins and tokens in the country’s law, can be used to facilitate illegal activities such as bribes, in the same way as fiat currency, property and other valuable assets are.
Blockchain technology is already known to the Sardinian agribusiness. The law proposal presented by the M5S regional councilor Alessandro Solinas, aimed at creating a multifunctional regional IT platform able to reconstruct and follow the path of food through all stages of production in Italy, is an ambitious and great potential goal from the farm to the fork.