News list for "Gibraltar"
The government of Gibraltar has announced that it will establish the world's first regulatory framework for the clearing and settlement of cryptocurrency derivatives, with the aim of improving the integrity of the virtual asset market and reducing trading risks. The framework, developed by the government of Gibraltar in collaboration with the Financial Services Commission (GFSC) and crypto exchange Bullish (parent company of CoinDesk), took six months to apply traditional financial clearing rule...
The Supreme Court of Gibraltar recently lifted a freeze on 542 million PLAY tokens in a legal dispute involving two affiliates of the Web3 gaming platform PLAY Network. In his ruling on April 17, Judge John Restano found that continued freezing could harm the value of the tokens and that the plaintiffs had insufficient evidence. The tokens, which account for about two-thirds of the circulation, are currently worth about $2.60 million, but have plummeted 97% since listing in December.
According to Cointelegraph, the Supreme Court of Gibraltar has ordered the freezing of about 440 million PLAY tokens (about $7 million), accounting for about half of the circulation. This stems from a legal dispute between US Web3 gaming company Ready Games and its Gibraltar subsidiary Ready Maker and its CEO Christina Macedo. Ready Games founder David Bennahum said the subsidiary violated the trust agreement and claimed ownership of the company and PLAY tokens without authorization.
