When These 5 Things Happen, Ethereum Will Rule Supreme
Ethereum was set to take the world by storm. But is it living up to its full potential? We hear about the ‘new Ethereum’ from the likes of Stellar and NEO all the time – what’s wrong with the old one? And what does Ethereum need to do to blast past Bitcoin, put these pretenders […]
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Bitcoin Boost: The Supreme Court Sports Gambling Decision
The cryptocurrency gambling industry is a very important one and has been moving huge amounts of funds in the last months. But on May the 14th, a very positive decision… Continue reading "Bitcoin Boost: The Supreme Court Sports Gambling Decision"
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How might Brett Kavanaugh on the Supreme Court affect crypto? » Brave New Coin
Early in July, President Donald Trump announced his nomination of conservative Judge Brett M. Kavanaugh to fill Justice Kennedy’s seat on the U.S. Supreme Court at the end of July. “Judge Kavanaugh has impeccable credentials, unsurpassed qualifications, and a proven commitment to equal justice under the law,” President Trump told the press. But many are asking how this commitment to equal justice might be applied to crypto? Kavanaugh and technology One concern for crypto users is Kavanaugh’s stance on net neutrality. He argues that it violates the free speech rights of internet providers. In 2017, he stated: “Internet service providers may not necessarily generate much content of their own, but they may decide what content they will transmit, just as cable operators decide what content they will transmit,” and, thereby, suggests that internet providers should have the right to censor the Internet, which, in an extreme case, could also mean the blocking of cryptocurrency websites. Furthermore, Kavanaugh has reportedly been a strong supporter of the NSA’s spy program. In 2015, he expressed his support of the NSA’s bulk collection of phone metadata, considering the highly controversial practice as a “special need” that takes priority over privacy concerns. This may suggest that anonymous cryptocurrency projects such as ZCash, Monero, and PIVX could come under more scrutiny should a case covering these projects or other digital privacy cases feature on the Supreme Court’s roster. Crypto under Kavanaugh John Paul Schnapper-Casteras, a Washington-based Supreme Court litigator who also acts as an advisor to technology companies, says it is difficult to judge how the addition of a new jurist could affect the cryptocurrency industry. “The legal landscape around cryptocurrencies is still rapidly developing and uncertain in many areas, whether it be at the SEC, in federal courts, or on the Hill. At this point, it is hard to accurately predict what sort of litigation will be most pressing in several years and which will settle or be appealed up to the Supreme Court — let alone how a prospective justice would sway the outcome on a particular issue,” Schnapper-Casteras said. Legal precedents are extremely important as they dictate how future cases with similar fact scenarios are decided. Having said that, no cryptocurrency-related cases have yet made it to the Supreme Court in the United States. Hence, the Court’s opinion on bitcoin and cryptographic assets still largely remains a mystery. To date, the only two countries where a Supreme Court has gotten involved in the crypto community were India when the Indian Supreme Court refused to lift the Reserve Bank of India’s cryptocurrency banking ban and Russia when its Supreme court instructed a local city court to review an appeal against a digital currency website that was blocked. Judging by Kavanaugh’s views on net neutrality and digital privacy, his appointment may turn out to be more harmful than beneficial for the cryptocurrency community in the U.S. On the other hand, as Kavanaugh resides on the side of “big business” and favors deregulation, the blockchain industry may benefit from that and could potentially continue to grow without stifling over-regulation. Kavanaugh’s political views Some insight into how Judge Kavanaugh might lean can be gleaned from milestones in his career to date. In a general sense, Liberals and Democrats see him as a ‘worse case scenario’ — fearing that his appointment as a Supreme Court Justice could put legal precedents affecting women’s rights, LGBT rights and environmental regulations at risk. Kavanaugh has also voiced his opposition to the Consumer Financial Protection Bureau (CFPB), a government agency that was set up by the Obama Administration in 2010 tasked with protected consumers in the financial sector. In 2016, Kavanaugh claimed the director of the CFPB has almost as much power as the president. The Supreme Court’s nominee’s views on environmental laws are also troubling to his opponents. Judge Kavanaugh has reportedly voted in a number of cases to limit the actions that the Environmental Protection Agency can take. All that said, Kavanaugh is considered as a friend of “big business” and could play a key role — if appointed — in the continuance of the Trump administration’s ongoing deregulation of the commercial sector. While this is a cause of concern for the left, it may actually be good for crypto, given its potential to revolutionize and disrupt business processes overall. Also, fears about Kavanaugh taking an impartial approach to issues may have been overblown. Although his credentials are conservative, former students of his who filled out professor evaluation forms at Harvard Law School, have complimented his even-handed approach to presenting political issues, according to a report by the New York Times. “While most of the class shared rather conservative views, the judge presented the other side quite well, even though he likely shared most of those conservative views. Many of the HLS professors could learn from his acceptance of views across the political spectrum.” one of his former students wrote — while another student stated: “If you didn’t know […] that Judge Kavanaugh had worked in the Bush administration, I don’t think you would have been able to say this is a conservative.” To date, Judge Kavanaugh has not made any public statements on the topic of cryptocurrencies or blockchain technology. Before this becomes a real topic of conversation, however, his appointment must first be approved by Congress. Democrats have promised a tough confirmation fight and if they can delay his appointment until beyond the U.S mid-term elections, a change in the makeup of the Senate may well render the discussion moot.
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India’s Supreme Court Postpones Verdict on Cryptocurrency Ban Again
The cryptocurrency situation in India is still uncertain. India’s Supreme Court has pushed back the date for a final hearing to September 11th. At that time, the community will finally know if the Reserve Bank of India’s ban will officially be enforced. Another Supreme Court Delay Solving the uncertainty surrounding India’s cryptocurrency situation has been...
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Breaking: Indian Supreme Court Pushes the “RBI Crypto Ban” Petition Hearing to September 11
On July 20, the Indian crypto community had its eyes on the supreme court as the much-awaited judgment on the petition against the RBI (central [...]
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Reserve Bank of India Pushes Supreme Court For Crypto Regulations
The Reserve Bank of India (RBI), the country’s central bank, recently told the country’s Supreme Court that cryptocurrency regulations are necessary, as cryptos like bitcoin encourage “illegal transactions.”
Indian Central Bank Makes a Case Before Supreme Court Against Allowing Crypto Use
India’s central bank told the country’s supreme court on Friday that “allowing dealings in cryptocurrencies like bitcoin would encourage illegal transactions.” Other crypto petitions being heard include one asking the government to “take emergency steps to restrain the sale and purchase of illegal cryptocurrencies.” Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space RBI’s Argument […]
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India’s Supreme Court to Issue Final Ruling on RBI Cryptocurrency Ban in September
The Indian Supreme Court has adjourned its hearing of the petition against the Reserve Bank of India (RBI) ban on banks facilitating cryptocurrency transactions. The apex court will deliver its final judgment on the matter on September 11, 2018. Hearing Adjourned till September 11 Indian cryptocurrency traders still have a fair bit of waiting to do before knowing the fate of the market in the country. According to a series of tweets by Crypto Kanoon,
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India’s Supreme Court Upholds RBI Ban, Final Arguments To be Heard in September
Today was the proverbial D-Day for the cryptocurrency industry in India as the Supreme Court was scheduled to hear the case against the Reserve Bank of India (RBI) instituting a ban forbidding all commercial banks in the country from facilitating crypto related transactions. The RBI ban also forbade all other regulated financial institutions from providing […]
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