Crypto exchange Uphold has denied owing around $784 million to the liquidation trust of bankrupt crypto investment platform Cred. At a court hearing on Jan. 11, Uphold filed a motion to dismiss all counts in the suit served against the firm by Cred in June 2022. Cred was a crypto lending service that filed chapter 11 bankruptcy in November 2020. In June 2022, Cred’s liquidation trust filed an adversary complaint against Uphold and two affiliates. It claimed that Uphold worked with Cred co-founders to promote CredEarn and claimed that it owes the crypto lender $783.9 million. According to the lawsuit, …

At the beginning of May, the British Web3 community celebrated an important legal precedent — the High Court of Justice in London, the closest analog to the United States Supreme Court, has ruled that nonfungible tokens (NFT) represent “private property.” There is a caveat, though: In the court’s ruling, this private property status does not extend to the actual underlying content that NFT represents. Cointelegraph reached out to legal experts to understand what this decision could possibly change in the British legal landscape. The theft of Boss Beauties In February 2022, Lavinia D. Osbourne, founder of Women in Blockchain Talks, …

In May 2021, a Nashville couple known as the Jarretts filed a lawsuit against the United States Internal Revenue Service (IRS) over taxes they had paid on unclaimed and unsold Tezos (XTZ) staking rewards. At the beginning of February, news broke that the lawsuit filed by the Jarretts had come to an end, resulting in the IRS issuing the couple a tax refund for $3,793. Confusion among crypto holders Not long after this news made headlines, confusion among the crypto community piqued. One crypto media publication sent a tweet from its official account on Feb. 2, 2022, saying, “BREAKING: IRS …

If there’s anything to take away from this federal class-action suit, it’s that this new opinion on ATB Coin provides further guidance on when a token might be considered a security under securities law in the United States. For those with a legal background, this piece is set up in a similar way to a case brief you probably remember from law school. But even without a legal background, here’s some guidelines on how to read this. A traditional case brief outlines the factual background, issues, rule of law, and how that particular court applied the rule of law to …