UK Law Panel Defines Crypto Assets as Property

The slump coincides with defunct crypto exchange Mt. Gox moving $2.6 billion worth of BTC to a new wallet prior to commencing creditor repayments. Michael Saylor's software company MicroStrategy, which holds over 210,000 BTC, and bitcoin miner Hut 8 led the declines. U.S. crypto-adjacent stocks were in the red in pre-market trading on Friday as

Financial giant SBI Group has announced that it is testing a crypto token to be used for retail payments over mobile devices. The group's investment arm, SBI Holdings, which launched Japan's first bank-backed crypto exchange in June, said in a news release Tuesday that it is about to kick off a proof-of-concept trial of its…

Nov 21, 2020 at 6:32 p.m. UTCCrypto Assets in South Africa Would Be Considered Financial Products Under Regulator ProposalCryptocurrency assets would be treated like financial products under South Africa’s Financial Advisory and Intermediary Services (FAIS) Act, under a draft declaration by a financial regulator.“The Declaration would have the effect that any person furnishing advice or…

news Creditors of Mt Gox waiting to get their bitcoin back from the long-defunct exchange can now get pennies on the dollar by selling their claims to Fortress Investment Group. In a letter sent to creditors, Michael Hourigan, a managing director at the New York-based private equity firm, said he is purchasing these claims for…

Daniel Kuhn is a features reporter and assistant opinion editor for CoinDesk's Layer 2. He owns BTC and ETH.On Sunday, as the U.S. government worked behind the scenes with two major banks to engineer the latest financial rescue plan, the Bitcoin network hit a new all-time high for the number of daily transactions processed. There…

Only in crypto can a token deemed worthless by its developers be resurrected as a serious project by an “army” of followers.Calcium (CAL), a so-called dummy token created by the Shiba Inu team as part of a plan to renounce the bone (BONE) token contract, was issued by developers early on Friday. Over 50% of

OPINION Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. In February 2014, when growing interest in bitcoin spawned the first wave of “altcoins,”…

Last week, CoinDesk's Sam Kessler reported that developers and IT workers employed by the Democratic People's Republic of Korea – i.e. North Korea – had managed to get themselves hired by a number of crypto projects, giving them two different ways of raising funds for the national regime. You’re reading State of Crypto, a CoinDesk

As the crypto derivatives industry begins to take off, it needs to avoid the lack of transparency that plagued the industry in the 2000s, when the financial system collapsed. (Science in HD/Unsplash)Jan 20, 2021 at 5:57 p.m. UTCDear Crypto Derivatives Industry, Let’s Not Repeat 2008$1 quadrillion. The derivatives market is considered the biggest market in…