Lawsuits Involving Crypto to Hit All-Time High

Analysts also note that the number of lawsuits in which crypto were present coincided with a drop in the price of bitcoin and other digital assets this year
17 September 2018   763

According to a recent study of the analytical platform Lex Machina, the number of lawsuits in US federal courts related to bitcoin and other crypto-urrencies in the first half of 2018 reached a new record level. This is reported by the International Business Times.

So, if for the whole of 2017 in the United States there were only 15 court cases involving crypto-currencies, and in the first two quarters of this year this figure increased threefold - to 45.

In addition, in the 18 months since Jay Clayton was appointed chairman of the US Securities and Exchange Commission (SEC), the number of securities-related cases has also reached a record level - for the indicated period, there were 2,622, which is 60% figures for the previous analogous period of time.

Securities lawsuits filed over cryptocurrencies or bitcoin have tripled so far this year as SEC chairman Jay Clayton announced a crackdown on that industry. The SEC, which has vowed to scrutinize cryptocurrencies and initial coin offerings, was responsible for 30 percent of the cases filed in 2018, that’s the second-most popular filer of such cases, topped only by the law firm Levi & Korsinsky.
 

Laura Hopkins

Legal data expert, Lex Machina

Analysts also note that the number of lawsuits in which cryptocurrencies were present coincided with a drop in the price of bitcoin and other digital assets this year. So, if in the fourth quarter of 2017, when bitcoin reached an absolute maximum of $ 20,000, there were only seven such claims, but in the first quarter of 2018 they were three times as large.

Among the most well-known cryptocurrency firms involved in litigation, it is possible to note Ripple, which only last week announced the agreement with the bank blockchain consortium R3 in the case of 5 billion XRP tokens.

Attention was also drawn to litigation, which involved the high-yield investment project Bitconnect.

Wirex to Issue 26 Stablecoins on XLM Blockchain

Wirex chosen Stellar blockchain because company considers it safe, easily scalable and relatively inexpensive to use
25 April 2019   77

British online banking platform Wirex has announced the listing for the XLM token, as well as the release of 26 stablecoins on the Stellar blockchain, pegged to fiat currencies, including USD, EUR, GBP, HKD and SGD.

Prior to this, Wirex card supported eight digital assets and ten fiat currencies.

In addition, Wirex added the ability to instantly convert steablecoins to each other at over-the-counter rates.

As the company expects, new assets will be used for money transfers, issue and redemption of tokens, as well as for payments for services.

The choice of Wirex fell on the Stellar blockchain, as the company considers it safe, easily scalable and relatively inexpensive to use.

Last year Wirex became the third company in a row that received a license to provide services in the UK and Europe.