Legal

This is a clear, candid, and practical explainer for Kenyan Bitcoin and crypto company founders, lawyers, compliance officers, and informed readers seeking a concise legal summary of the Virtual Asset Service Providers Act — what it regulates, what it doesn't, and what you need to know to stay compliant whilst preserving your freedom to innovate.

Bitcoin think tanks, policy specialists, and social hubs unite to launch the “Satoshi Needs You!” campaign, which aims to catalyze everyday Bitcoiners to contact their elected officials to protect their right to transact peer-to-peer as well as the developers who create the technology that enables such transactions.

The FTX Bankruptcy Trust filed a $1.15 billion lawsuit against Bitcoin mining firm Genesis Digital Assets.

In a recent framework for digital asset market structure legislation, Senate Democrats state that they aim to protect financial privacy while “denying” bad actors access to crypto but offer few specifics about how they plan to strike this balance.

In the U.S. Senate Banking Committee’s most recent version of the CLARITY Act, Bitcoin and crypto developers would be protected from being charged with operating an unlicensed money transmitting business moving forward — and retroactively.

Over 110 crypto investors, developers, and advocacy groups have signed a sweeping letter to the U.S. Senate Banking Committee, warning that failure to protect open-source software developers could drive innovation overseas and stall crypto adoption.

Acting Assistant Attorney General Matthew Galeotti stated publicly today that the DoJ does not plan to prosecute open-source crypto developers simply for writing code, but the devil may have been in the details of his talk.

Tornado Cash co-founder Roman Storm has been found guilty of conspiracy to operate an unlicensed money transmitting business, while the jury wasn’t unanimous on the other two counts that the developer faced.

After three days of deliberation, many, including myself, are anxious for a verdict in the Tornado Cash trial, but the fact that it’s taking so long for the members of the jury to arrive at one may be a good sign for the defense.

Learn more about what's happening and what's at stake in the Tornado Cash trial from Amanda Tuminelli, a former criminal defense lawyer with a deep understanding of U.S. money-transmission law.