Chinese court rules NFTs are legally protected virtual property
Nonfungible Tokens (NFTs), according to a Chinese court in the city of Hangzhou, are online virtual properties that need to be protected by Chinese law. A Dec. 5 post by cryptocurrency blogger Wu Blockchain discloses the favorable language for NFTs after the country started to crack down on cryptocurrencies in 2021, placing NFTs in legal […]
South Korea drops arrest warrants for ex-Terraform Labs workers
Authorities in South Korea have revoked the arrest warrants that five former Terraform Labs employees had been the subject of requests from prosecutors last week. Following the rejection of the arrest warrants, Terraform Labs issued a statement claiming that this “illustrates that the prosecutors are trying to stretch Korean laws past their breaking point.” Daniel […]
Galaxy Digital acquires Celsius GK8 in bankruptcy sale
GK8, the self-custody platform, which Celsius paid $115 million in 2021, is about to change hands, subject to regulatory permission. GK8, an institutional digital asset self-custody platform owned by Celsius Network, has been awarded to Mike Novogratz-led investment firm Galaxy Digital Holdings, subject to court clearances and other closing requirements. The platform’s almost 40-person team, […]