Crypto Investor Awarded Over $75 Million in SIM-Swapping Hack Case

U.S.-based cryptocurrency investor and entrepreneur Michael Terpin has won over $75 million in a lawsuit related to a SIM-swapping fraud. Terpin filed the case against 21-year-old Nicholas Truglia earlier this year, saying the Manhattan resident had defrauded him of cryptocurrencies after gaining control of his cellphone number. California Superior Court has now ordered Truglia to…

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CFTC Chair Giancarlo Hints at What’s Holding Back Bakkt’s Bitcoin Futures

The Takeaway Bakkt, the proposed bitcoin futures exchange, remains in regulatory limbo CFTC Chairman Christopher Giancarlo wouldn’t discuss specific proposals, but his general comments about crypto regulation offer hints at the reasons Bakkt is languishing Part of the problem appears to be the firm’s plan to custody its own bitcoin, and clear trades through its…

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Wyoming Blockchain Bill Proposes Issuance of Tokenized Stock Certificates

Lawmakers from the U.S. state of Wyoming have introduced legislation that would allow the issuance of tokenized stock certificates using blockchain tech. On Wednesday, representative Jared Olsen (Republican), along with senator Chris Rothfuss (Democratic) and six other Republican representatives jointly filed House Bill 0185, titled “Corporate stock-certificate tokens,” proposing an amendment that would permit the use…

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Stablecoin Issuers May Need Licenses in Texas, Unlike Most Crypto Startups

Stablecoins may qualify as “money” under Texas law, according to updated guidance from the state Department of Banking. A memo published Wednesday by Texas Banking Commissioner Charles Cooper outlines how cryptocurrencies are to be treated under local and federal regulations, in particular adding details of how stablecoins backed by sovereign, or fiat, currencies may be…

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