Law

Are Reserve Banks and Treasuries dodging the inclination of digital currencies? Crypto has gathered great momentum in the last few years and has now become a perilous, but very profitable, investment or trading alternative. South Africa has been delaying the regulation of cryptos and for a long time, their use has been totally unregulated.

Ripple Labs, based in San Francisco, has now consolidated its lawsuits that are still ongoing into one tractable federal action. This effort has been dubbed "tactical brilliance" and "slick" by Jake Chervinsky, Securities litigation attorney, Kobre & Kim. It now meets all the necessary requirements that are specified under the U.S. Class Action Fairness Act (CAFA).

Recently, news about the lifting of bans on crypto trading in China spread like wildfire. Unfortunately, it has turned out to be fake news and this has totally annoyed the Chinese cryptocurrency enthusiasts. This time around, the real truth was lost during the translation process and incompetent translators became the most patsies in this entire story.

The People's Republic of China has been a no-go zone for the last 12-months when it comes to the issue of digital currencies. There has been a wide range of crackdowns aiming at commercial enterprises and selfstanding users involving themselves with this 21st century unicorn.

According to a report by CnLedger, a reliable crypto news outlet in China, merchants in the country can legitimately accept digital currency as a method of payment.

Russian deputies have removed the definition of cryptocurrency mining from a draft bill on crypto regulation prior to its next reading in the State Duma, however, the new law won't resolve tax concerns for miners.

The state of California has passed two blockchain tech bills into law. These bills were tabled by various members of the state's legislative houses, and they broadly define blockchain technology, cryptos and also enable innovations that are backed by this great tech to possess legal standing.

This week, Verkhovna Rada, the Parliament of Ukraine, will consider a draft law which amends the country’s tax code, suggesting tax immunity for all digital currency market users up to the end of 2029.

Blockchain technology is mainly talked about in the context of the financial markets, but U.S law could enable it to become a requisite solution for the pharmaceutical sector as well. The Drug Supply Chain Security (DSCS) Act from 2013 constraints drug makers and supply chain offerers to batten tracking ways to shun the spread of fake drugs and fasten drug recalls.