EU Regulators to Discuss Crypto Regulation

A high-level roundtable on cryptocurrencies will take place on 26 February
20 February 2018   1291

According to the press release, European Commission vice president Valdis Dombrovskis informed that this meeting will involve central banks’ representatives as well as the bloc's market supervisors. Also, market players will be invited to speak. Their names were not mentioned.

Next week, on Feb. 26 I will chair a high-level roundtable on virtual currencies. The Commission has invited key authorities, including central banks and supervisors, as well as market players to share their insights.

Valdis Dombrovskis

European Commission vice president

Dombrovskis stated that the aim of this discussion is to look at long-term trends linked to cryptocurrencies, and examine if current regulation is fit for purpose.

It is very notable that the meeting will take place soon, given that some European leaders including France and Germany, in particular, have called for more discussions around the topic.

Mt. Gox CEO to be Found Guilty of Falsifying Docs

Mark Karpeles has a suspended term of four years ahead to prove his reliability and to avoid a real imprisonment
15 March 2019   120

The Tokyo District Court convicted the former CEO of the Mt.Gox bitcoin exchange, Mark Karpeles, of falsifying documents and sentenced him to two years and six months in prison. Nevertheless, Karpeles has a suspended term of four years ahead to prove his reliability and to avoid a real imprisonment. Reported by The Block.

Note that the prosecutor's office demanded 10 years in prison, however, on charges of embezzlement and violation of corporate law, Karpeles was found not guilty.

Karpeles and his lawyers intend to assess the situation and develop a strategy for action on the charges.

Earlier, the Illinois court rejected the petition of the lawyers of the former head of Mt.Gox to suspend the proceedings against him in the United States. So, American investors Gregory Green and Anthony Motto demand that Carpeles be personally responsible for the loss of their investments.

Once the largest Bitcoin exchange Mt. Gox crashed in early 2014. This happened after the information appeared about its alleged hacking and theft of 800,000 BTC ($ 480 million at that time). In December last year, Carpeles, during his closing speech at a Tokyo court, called himself innocent of the events that caused the millions of client losses and the company's collapse.