A British judge, Justice Keyser KC, has rejected an application by James Howells, an IT engineer in Newport, Wales, to recover $735 million worth of Bitcoin hard drives buried in a Newport landfill, citing environmental risks. Newport City Council has consistently refused to enter the landfill where the hard drive was accidentally discarded in 2013, and according to the BBC, the judge believes the case has "no realistic chance of success" at trial. Howells mined Bitcoin in 2009 when it cost only...
James Howells, an IT engineer in Newport, Wales, discarded a hard drive containing 7,500 bitcoins in 13 years. Howells repeatedly applied to dig into the landfill to find the hard drive, but the Newport City Council rejected his request repeatedly, citing environmental concerns. Howells claims that the city council "basically ignored" his repeated requests to dig up the burial site of the hard drive. He has now filed a lawsuit with the Newport City Council.
The Law Commission for England and Wales has urged its government to classify all crypto assets as a new form of personal property in its final report on digital assets. The Law Commission is an independent body primarily responsible for reviewing and recommending legal reforms in England and Wales. On July 30, it released a supplementary report highlighting the inadequacies of the current classification of personal property and its legal implications for crypto assets. English law places person...
The Law Commission for England and Wales, which reviews and recommends changes to the law to the UK government, said it does not recommend a new legal framework for decentralized autonomous organizations (DAOs) because they may be subject to existing regulations that require companies to obtain authorisation to operate in the UK. The independent statutory body wrote in a paper published on Thursday that if the DAO engaged in "specific activities" related to "specific investments"...
Nigeria's Finance Minister Wale Edun has urged the country's newly formed Securities and Exchange Commission (SEC) board to address the complexities of regulating cryptocurrencies. He stressed the need for strict regulation to preserve the market integrity of capital markets. Edun also stressed the importance of remaining informed and adaptable, especially in fast-moving areas such as artificial intelligence, digital currencies and overall digital transformation. The SEC board, led by Mairiga Ka...