The Winklevoss twins, founders of the Gemini crypto exchange, have been ordered to repay Charlie Shrem, co-founder of the early Bitcoin company BitInstant, $45,000 in legal fees he incurred when the twins filed to have his holdings seized. The dispute stems from a Winklevoss claim that Shrem took 5,000 bitcoin from them in 2012. When the request that Shrem's holdings be seized was denied, a U.S. District Court judge ordered the twins to reimburse Shrem.
The Financial Crimes Enforcement Network (FinCEN) has assessed a civil money penalty against a peer-to-peer bitcoin trader for violating anti-money laundering (AML) regulations, its first enforcement action against a cryptocurrency exchanger. According to the agency, the exchanger failed to register as a money services business and failed to report "suspicious transactions," among other violations. The exchanger has been assessed a $35,000 fine and is now prohibited from providing money transmission services.
The Enterprise Ethereum Alliance has announced a "Token Taxonomy Initiative" to develop universal definitions for tokens to encourage their interchangeability across blockchain platforms. Members of the initiative include Microsoft, R3, ConsenSys, IBM, EY, Accenture and Intel.
Gemini Trust, a New York-based cryptocurrency exchange, has announced support for Segregated Witness (SegWit) addresses and transaction batching. As a result, customers can now use SegWit addresses for bitcoin deposits and withdrawals, ideally improving processing times and lowering bitcoin withdrawal fees.