Bitfinex to file lawsuit against critics

Bitfinex has hired the law firm to file lawsuit against critics
05 December 2017   852

Bitfinex has hired the law firm of Steptoe & Johnson and is threatening legal action against a blogger who has made false claims about the bitcoin exchange.

To date, every claim made by these bad actors has been patently false and made simply to agitate the cryptocurrency ecosystem. As a result, Bitfinex has decided to assert all of its legal rights and remedies against this agitator and his associates.


Stuart Hoegner

The in-house counsel for Bitfinex

The blogger Bitfinex'ed, the most popular critic of Binfinex, said the exchange has knowingly filed unjustified lawsuits that had no intent on completing, referring to an example of Bitfinex's lawsuit against Wells Fargo, which was withdrawn in April.

Recently, Bitfinex’ed accused Bitfinex of close ties to Tether, saying that Tether is issuing more tethers that it can redeem and issuing them to fund margin trading in Binfinex, thereby artificially pumping up the price of bitcoin. He or she has also stated that Bitfinex allowed and benefited from wash trading on the exchange, and that it misled customers and investors on other matters.

However, Bitfinex did not specify who exactly it might sue, on what grounds, or in which jurisdiction.

BitPay to Receive New York's BitLicense

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers
17 July 2018   87

The well-known cryptocurrency processing service BitPay obtained a license to work with virtual currencies in the state of New York. Known also as BitLicense, this license is issued by the New York Department of Financial Services (NYDFS) and grants its holders the ability to conduct activities related to cryptocurrencies in the state.

NYDFS has carefully studied the company's application, including its policy on measures to combat money laundering, customer identification, fraud prevention, cybersecurity. The financial situation of the company was also thoroughly analyzed.

New York state has one of the strictest policies around businesses involved in cryptocurrency and working through the approval processes to obtain a License was important to BitPay. We believe this hard work will pay off as New York presents significant business opportunities for BitPay.

Stephen Pair

CEO, BitPay

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers: the first will be able to use the company's processing services to accept payments in Bitcoin and Bitcoin Cash, the latter will pay for various goods and services using these two BitPay supported cryptos.

Note that BitPay was only the eighth company that received BitLicense. Other license holders are Square, Xapo, Genesis Global Trading, bitFlyer USA, Coinbase, Ripple and Circle. In addition, special permissions for operations with crypto-currencies are exchanged by Gemini and itBit.