Legal

Two Attacks on ETC Network Leave Community Needing a Solution, Fast

Source Node: https://cointelegraph.com/news/two-attacks-on-etc-network-leave-community-needing-a-solution-fast
Time Stamp: August 16, 2020 9:15 AM - Modified On: May 21, 2021 - Published By:
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Ethereum Classic, a 2016 hard fork from Ethereum’s main blockchain, has suffered multiple concerning network attacks over the last two years. Two such attacks occurred within a seven-day span, totaling millions of dollars in losses. With the dust settling from the two 51% attacks, further details are now coming forward, as provided by a number of industry experts.“There is no debate about the attacks,” ETC Labs CEO Terry Culver told Cointelegraph on Aug. 7, answering a question on whether or not the network difficulties were in fact 51% attacks. “Community

Craig Wright Won’t Need to Pay Hodlnaut $60K Until Appeal Is Over, Says Counsel

Source Node: https://cointelegraph.com/news/craig-wright-wont-need-to-pay-hodlnaut-60k-until-appeal-is-over-says-counsel
Time Stamp: August 14, 2020 8:56 AM - Modified On: May 21, 2021 - Published By:
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Craig Wright, a self-proclaimed Bitcoin (BTC) creator, is apparently not required to pay legal fees for a failed libel suit against the Twitter crypto enthusiast known as Hodlonaut.In an Aug. 14 email to Cointelegraph, Wright’s legal representative argued that he is not obliged to pay legal costs in the defamation suit until the Norwegian Supreme Court considers an appeal.The spokesperson said, “Craig has appealed to the Norwegian Supreme Court. Craig’s Norwegian lawyers say that there is no obligation on Craig to pay the costs until that appeal is dealt with.”The

Four of the Top Five South Korean Banks to Offer Crypto Services

Source Node: https://cointelegraph.com/news/four-of-the-top-five-south-korean-banks-to-offer-crypto-services
Time Stamp: August 14, 2020 1:08 AM - Modified On: May 21, 2021 - Published By:
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South Korea’s Woori and Shinhan banks have just announced their intention to introduce “crypto-asset services”. That means that four of the country’s top five banks, holding a combined value of more than $1.2 trillion in assets, are now poised to introduce crypto services.Each of the banks aims to hold and manage cryptocurrencies for clients. Both Shinhan and Woori announced their plans in direct response to the amended Special Financial Transactions Information Act which will change legislation around crypto assets, coming into force next year.Shinhan bank previously announced plans for crypto

$600M Crypto Ad Ban Class Action Filed in Australian Courts

Source Node: https://cointelegraph.com/news/600m-crypto-ad-ban-class-action-filed-in-australian-courts
Time Stamp: August 13, 2020 10:54 PM - Modified On: May 21, 2021 - Published By:
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Law firm JPB Liberty filed a class-action lawsuit in the Federal Court of New South Wales earlier today, targeting Facebook and Google for anti-competitive behavior for banning cryptocurrency advertising in 2018.JPB argues the ban, which was loosened in 2019, killed the initial coin offering (ICO) market and caused severe financial damage to the wider cryptocurrency industry.JPB Liberty CEO Andrew Hamilton said the tech giants had acted as a cartel in launching the crypto ad ban, in order to crush competition from the blockchain sector.The suit has garnered more than $600

Token Launches From Ethereum to Telegram: Where Do We Go From Here?

Source Node: https://cointelegraph.com/news/token-launches-from-ethereum-to-telegram-where-do-we-go-from-here
Time Stamp: August 12, 2020 9:51 AM - Modified On: May 21, 2021 - Published By:
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In February, United States Securities and Exchange Commission Commissioner Hester Peirce was asked to give her opinion on the SEC’s case against Telegram. She declined to comment at the time, as SEC officials do not speak publicly about ongoing enforcement actions. In late July, however, with the Telegram case settled, Commissioner Peirce gave a speech titled “Not Braking and Breaking” that pointedly questioned the approach taken by the SEC in the Telegram case. Concluding her remarks, Commissioner Peirce asked:“Who did we protect by bringing this action? The initial purchasers, who

Title Token for Blockchain Estate Registry, Part 3

Source Node: https://cointelegraph.com/news/title-token-for-blockchain-estate-registry-part-3
Time Stamp: August 8, 2020 6:00 AM - Modified On: May 21, 2021 - Published By:
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The advantage of the cross-blockchain protocol for public registries is that it can unite any number of existing ledgers in one ecosystem and does not need to upgrade the protocols of such blockchains. In simple terms, the protocol works as an aggregator of tokens across blockchains. The protocol conceptually comprises two major elements:The format requirements for an entry by knowing the standard of a record, the user’s machine can automatically collect records from various ledgers in one bundle.The hook, which is the algorithm that scans blocks of ledgers and extracts

Adam Back: Some ICOs Funded Useful Research Despite Being Unethical

Source Node: https://cointelegraph.com/news/adam-back-some-icos-funded-useful-research-despite-being-unethical
Time Stamp: August 7, 2020 7:00 PM - Modified On: May 21, 2021 - Published By:
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Adam Back recently took to Twitter with controversial comments on many of the industry’s largest crypto projects — including Ethereum (ETH), Cardano (ADA), Ripple (XRP), and Stellar (XML). His tweets placed these projects in the same category as a number of bonafide scams, which he considers to have been orchestrated as “premines”.We interviewed Back in order to clarify his position on the matter, starting with questions of how he feels about Satoshi Nakamoto essentially premining over one million Bitcoin. Back responded that “Bitcoin has no premine”, adding that he considers