phdilanuom (OP)
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February 17, 2018, 08:11:08 AM |
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Is there any court cases against bitcoin? why do Europian Bank say bitcoin does not involve traditional financial actors?  |
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avikz
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February 17, 2018, 10:08:28 AM |
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Bitcoin is not a physical asset and the creator of bitcoin is still unknown. So the basic requirement of a court case is not fulfilled against bitcoin. Court will not chase anyone who doesn't exist in reality, it's a just a massive waste of time for them. So I don't think I have come across any news of court cases against bitcoin in last 3 years. Even if the court start chasing the creator of bitcoin, it will end up chasing someone's figment of imagination. So no!
But a several court cases are ongoing against some crypto currency exchanges. Some fraud related to bitcoin and crypto currency is also taken up by courts, but they can't be considered the cases against bitcoin directly. Some PILs (Public interest litigation) are filed against central banks and regulatory authorities for regulating bitcoin are ongoing, but again they are not directly against bitcoin in way.
Also the span of bitcoin is so massive, it is not possible for a court of a police force to act against bitcoin. They are just too small to control the bitcoin.
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richminded
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February 17, 2018, 11:36:32 AM |
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There is no special court for bitcoin because its decentralized and its a digital currency that is circulating around the world. They can regulate or ban this thing but they cannot file a case to bitcoin literally. Banking system are just being scared because of growing market of cryptos yet people are keep on using this thing because of its technology.
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CryptoBry
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February 17, 2018, 05:50:44 PM |
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I still have to hear a court case against Bitcoin maybe you are referring to cases involving Bitcoin but not Bitcoin itself s it has no legal entity on its own (unlike a corporation or partnership type of a business). It is just like the fiat money...I still have to hear anybody suing the dollar but there are people being sued for not paying their debts in dollars. Bitcoin is not a persona that can be named in any court as the respondent.
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Olegnar
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February 17, 2018, 08:32:01 PM |
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What would be the point of bringing the Bitcoin to court. And how that process would end?
Traditional financial actors how banks say are something less than they are in crypto market.
You and me, we are no only the consumers, we are traders too in crypto.
In FIAT world you need broker for some things.
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Shrinath
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February 18, 2018, 08:13:15 PM |
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Virtual currencies can be exchanged tax-free in the European Union, following a ruling from the highest court in Europe. Bitcoin and its alternatives can now be treated in the same way as traditional money, according to the European Court of Justice. It said in a statement Thursday morning that bitcoin transactions "are exempt from VAT (value-added tax) under the provision concerning transactions relating to currency, bank notes and coins used as legal tender." The ruling comes after a dispute in a Swedish court when David Hedqvist, a Swedish national, applied for permission to operate his online bitcoin exchange. The Swedish Revenue Law Commission initially told Hedqvist that bitcoin was exempt from VAT but the Swedish Tax Authority appealed against that decision.
The ruling paves the way for potentially cheaper transactions within the EU and therefore a boon for the nascent industry. The announcement came as the regulator ordered bitcoin options trading platform Coinflip, and its CEO Francisco Riordan, to cease trading due to it not registering and complying with its regulations. It added that it had also filed, and simultaneously settled, charges against the San Francisco-based firm.
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Tenderino
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February 18, 2018, 08:20:46 PM |
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Bitcoin is neither a person nor a company and a court can only sue persons or companies. But I recently read about a court case where the accused used bitcoin to launder money. Hence bitcoin is handled like money laundering or tax evasion using fiat money.
What exactly are traditional financial actors? Banks that print money out of nothing?
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gantez
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February 19, 2018, 02:01:24 PM
Last edit: February 19, 2018, 02:21:38 PM by gantez |
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Bitcoin is neither a person nor a company and a court can only sue persons or companies. But I recently read about a court case where the accused used bitcoin to launder money. Hence bitcoin is handled like money laundering or tax evasion using fiat money.
This is one area I think the court can come in for now since we are are yet to hear a tangle news on adopting. I mean in using crypto wallet to launder money and is going to be treated strictly as fraud. What exactly are traditional financial actors? Banks that print money out of nothing?
They have the support of the government to operate and keep custody of collective country money.
Banks that print money out of nothing?
 I get exactly your point. Like afterall fiat is printed out of nowhere... |
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wave1002012
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February 19, 2018, 03:33:20 PM |
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No, because the court can't trace when and where the bitcoin started and this is digital currency so they don't have physical evidence to file a case.
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pereira4
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February 23, 2018, 06:46:18 PM |
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It's impossible, simply because Bitcoin is not a person or institution, you cant knock on the door of the "Bitcoin headquarters". They have killed previous attempts at internet money because they were centralized and they indeed had some sort of centralized point of failure.
Similarly, they can't kill BitTorrent, and BitTorrent has a well known creator, but decentralized networks, once they are in the wild, cannot be shut down, so what they would win by putting the creator of BitTorrent in jail? nothing, other than bad press.
What we've had is cases against people using Bitcoin (which is why im very paranoid about it) but not against Bitcoin itself.
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Johnyz
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February 23, 2018, 08:03:40 PM |
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Is there any court cases against bitcoin? why do Europian Bank say bitcoin does not involve traditional financial actors? Cause its a digital currency that never seen before. There’s no cases against bitcoin becuase its just a currency that government treat as a threat to their economy. There’s a people who file cases against one person because of cryptocurrency, But not agains to the crypto itself. |
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really01
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February 24, 2018, 02:59:37 PM |
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Bitcoin is a type of property that the state is almost impossible to manage. It is difficult to identify transactions and tax is only calculated at the main trading platform.
Therefore, it is difficult for the court to protect the interests of the trader
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dunfida
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February 24, 2018, 09:45:59 PM |
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Bitcoin is neither a person nor a company and a court can only sue persons or companies. But I recently read about a court case where the accused used bitcoin to launder money. Hence bitcoin is handled like money laundering or tax evasion using fiat money.
What exactly are traditional financial actors? Banks that print money out of nothing?
It's not against Bitcoin but rather against at the AML and basically Bitcoin can't do anything about it. It is between the person and exchanges who did the transactions and most of the exchanges are under owned by the banks/government which basically tends to ask their clients their personal information if they exceeded their limit of depositing or withdrawing a money from the exchanges. So, any crypto that is being converted into real cash that is beyond their basic income and without a proof of liquidity will be subjected to a Suspicious Activity Report(SAR). |
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Jating
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February 24, 2018, 11:23:23 PM |
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Is there any court cases against bitcoin? why do Europian Bank say bitcoin does not involve traditional financial actors? Here's is the latest court cases against a trading platform for lying about a hack. https://www.bleepingcomputer.com/news/cryptocurrency/bitcoin-exchange-admin-charged-for-lying-about-hack/And then the (in)famous Mt. Gox hacked. http://www.dailymail.co.uk/wires/afp/article-4683466/MtGox-CEO-goes-trial-Japan-missing-Bitcoins.htmlMark Karpeles, pleading not guilty. But as what other posters have said, it's not against bitcoin per se, but exchanges, involving bitcoins. There are hundred of such cases around the world. As far as traditional actors, well crypto is decentralized, there's no one authority above it that can oversee it. And don't be surprised about how European Banks is against crypto, because they are really afraid how disruptive it can bring to their economy, but in a positive way. |
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creeps
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February 25, 2018, 01:26:52 AM |
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No, because the court can't trace when and where the bitcoin started and this is digital currency so they don't have physical evidence to file a case.
Exactly so literally we cannot file any cases against the things that not exist physically. We can run to people after you claim that you got scammed but not on bitcoin itself. I think this is why government trying to regulate it for the sake of every investors but of course there's a deeper reason behind it. |
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Ghondronk
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https://exiptoken.io/
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February 25, 2018, 04:49:53 AM |
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I do not think it ever existed, how to try a bitcoin that turned out to be just an electronic currency, no taxes and no rules whatsoever, when we enter the world of bitcoint losses and profits are in front of the eye, only in some countries prohibits the fear of conventional currency replaced by electronic currencies
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brontosaurus
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February 28, 2018, 04:40:23 PM |
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Is there any court cases against bitcoin? why do Europian Bank say bitcoin does not involve traditional financial actors? There can not be any case on bitcoin because of its nowhere in the law itself. No traditional law has any mention about this cryptocurrency word. Moreover no one is kind of imposing bitcoin on anyone. Its the own trust of people due to which they are adopting it. Secondly there hasnt been any scam by the bitcoin blockchain in which the bitcoins of someone was confiscated or something like that. Even my laptop doesn't has any financial actors but if 10 people say its valuable and can be taken as investment this doesn't really makes me a criminal. |
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Kronos21
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February 28, 2018, 05:25:41 PM |
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Bitcoin does not belong to anyone. As it is possible to file a lawsuit? You can file a lawsuit against the sky due to the fact that some days there are rains and you have losses? Similarly, you can judge with bitcoins. Bitcoin is located in all jurisdictions. Previously, all rich people used offshore zones. Now bitcoin has become an offshore zone for everyone. There are a lot of interested parties so it is impossible to stop bitcoin.
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palle11
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February 28, 2018, 08:38:51 PM |
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Bitcoin is a type of property that the state is almost impossible to manage. It is difficult to identify transactions and tax is only calculated at the main trading platform.
Therefore, it is difficult for the court to protect the interests of the trader
I don't really see much difficulty in it. I think the issue is the various government have not really taken a stand point on the life of cryptocurrency either individually or as a body or union to control it. Off course, any moment regulations starts, that will mean acceptance and legal means, both taxes would be set up. |
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