UK Law Commission Seeks Evidence on DAOs — Expert Says ‘New Legal Forms Are Required’
The United Kingdom Law Commission recently asked experts and users to participate in a ten-week exercise whose objective is to help the commission better understand how decentralized autonomous organizations (DAOs) operate. A blockchain expert says the commission’s call shows that the U.K. is “leading the way in thinking and developing the law and other institutions that are needed.” Legal and Regulatory Status of DAOs Not yet Clear...
Albanian Court Approves Extradition of Crypto Exchange Thodex Founder to Turkey
A court in Albania has ordered the extradition of the fugitive founder of cryptocurrency exchange Thodex to Turkey, where he is sought for fraud and other crimes. Faruk Ozer was arrested in Albania this summer, after disappearing last year as the coin trading platform collapsed. Albanian Judiciary Prepares to Hand Over Alleged Crypto Fraudster and Thodex Founder to Turkey A court in the Albanian city of Elbasan has authorized the...
Ontario Teachers’ Pension Fund Writes Down Entire Investment in Bankrupt Crypto Exchange FTX Citing ‘Potential Fraud’
Ontario Teachers’ Pension Plan (OTPP), one of the largest pension plans in the world, is writing down its investment in the bankrupt crypto exchange FTX. “Recent reports suggest potential fraud conducted at FTX which is deeply concerning for all parties,” the plan states. Major Canadian Pension Plan Writes Down FTX Investment Ontario Teachers’ Pension Plan (OTPP), Canada’s third largest pension fund, issued a statement Thursday...
Bahamas Regulator Takes Action to Seize FTX’s Cryptocurrencies to ‘Protect’ Clients and Creditors
The Securities Commission of the Bahamas has ordered crypto exchange FTX to transfer its cryptocurrencies to a wallet controlled by the regulator. The “Urgent interim regulatory action was necessary to protect the interests” of FTX’s clients and creditors, said the regulator. Bahamas Regulator Takes Action to Seize FTX’s Cryptocurrencies for ‘Safekeeping’ The Securities Commission of the Bahamas (SCB) announced Thursday that it has...
Big Four Company KPMG to Examine New Business Models in the Metaverse
KPMG, one of the “big four” companies in the consulting and auditing business, is appointing a new head of metaverse futures. The new position, to be occupied by Alyse Sue, will be dedicated to the implementation of technologies such as metaverse and crypto to find fresh business models for the company, as other big four companies are already doing. KPMG to Focus on the Metaverse The metaverse is gaining the attention of many large...
