However, in a 17th November court filing, MBIC has stated that it believes it was justified in rejecting BitPay’s claim, formally requesting the court to toss the suit.
At the heart of the dispute is whether the transfers in question were fraudulently executed.
Prosecutors in the Los Angeles suburb responsible for a huge share of the nation’s wiretaps almost certainly violated federal law when they authorized widespread eavesdropping that police used to make more than 300 arrests and seize millions of dollars in cash and drugs throughout the USA.
The violations could undermine the legality of as many as 738 wiretaps approved in Riverside County, Calif., since the middle of 2013, an investigation by USA TODAY and The Desert Sun, based on interviews and court records, has found. Prosecutors reported that those taps, often conducted by federal drug investigators, intercepted phone calls and text messages by more than 52,000 people.
On November 9, 2015, Anthony Albanese, Acting Superintendent of the New York State Department of Financial Services (NYDFS), issued a letter to a wide array of federal and state financial services regulators that are part of the Financial and Banking Information Infrastructure Committee (FBIIC). The FBIIC members work together to enhance the reliability and security of financial sector infrastructure. Mr. Albanese’s letter outlines potential new cybersecurity regulations that would impact NYDFS-regulated financial institutions. The letter, which follows numerous steps taken by the NYDFS in recent years to better understand and mitigate cybersecurity risks, further positions the NYDFS as a leading regulator on cybersecurity issues in the U.S., particularly with respect to the financial sector. While no precise timeline was specified for enacting the potential regulations outlined, it appears likely that the NYDFS may formally propose comprehensive cybersecurity regulations in the months ahead.