Dogecoin may be a lighthearted joke, but it's no laughing matter when your money is involved. Jim Cramer – host of “Mad Money” on CNBC – recently claimed that Dogecoin is security eventually regulated. Is Doge A Security? Cramer issued a warning about the meme coin in a tweet on Thursday. Were the SEC to agree with his assessment, he suspects exchanges will come under fire for making money from newly “created” Dogecoin. “Please be careful with Dogecoin...It is a…
Recently, there is a defamation case in the New South Wales District Court, and Judge Judith Gibson approved the use of cryptocurrency as collateral. The judge said that cryptocurrency is a form of investment with recognition and acknowledged its volatility, as per a brief from the Australian Associated Press.
The New South Wales court directed that the plaintiff must deposit 20000 AUD (about $13,000) in a bank account guarded by the courts. In this case, the plaintiff’s loss or success would result in using funds to settle a part of the defendant’s legal fees.
The Court Rules in Favour of Cryptocurrency
The court allowed the plaintiff to use their cryptocurrency exchange account instead of a bank account. However, the defendant’s team raised instability concerns, making the plaintiff decide to report every month regarding the account’s cryptocurrency value.
Furthermore, when the cryptocurrency account’s value falls below 20000 AUD, the plaintiff must notify the defendant’s solicitor. In this case, the use of cryptocurrency as collateral signifies that the digital currency’s industry is valid to governments globally.