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Crypto

New York court pauses lawsuit seeking ownership of 39,069 dormant bitcoin wallets

A New York court has temporarily paused proceedings in a lawsuit seeking to transfer ownership of tens of thousands of bitcoin wallets to the plaintiffs. The pause will remain in place until a July 14 hearing on an amicus brief. The case targets 39,069 addresses claimed to be lost or abandoned, but a recent transfer of about 35.55 bitcoin from a long-dormant address linked to the lawsuit has raised questions about that assertion.

Crypto

Kraken clears Dubai regulatory hurdle, UAE market entry in sight

Crypto exchange Kraken\'s parent Payward has received preliminary approval from Dubai\'s Virtual Assets Regulatory Authority (VARA). Cointelegraph reported that Payward secured preliminary approval for broker-dealer, investment and management licences and announced plans to expand in Dubai. A formal launch date has not been set. Once services begin, it plans to support UAE dirham transfers, margin trading and over-the-counter trading, and to offer Kraken Prime to institutional clients.

Crypto

AhnLab Blockchain Company obtains VASP licence

AhnLab’s blockchain subsidiary AhnLab Blockchain Company (ABC) said on Wednesday it has obtained a virtual asset service provider (VASP) licence from South Korea’s Financial Intelligence Unit for virtual asset custody and transfer. ABC said it completed acceptance of its VASP filing for a custody service that stores and manages customer assets and transfers them following internal approval procedures. ABC said the approval provides a legal basis to expand Web3 financial infrastructure services.