header-logo header-logo

Home Login E-newsletter About us
07 July 2023 / Lauren Pardoe
Issue: 8032 / Categories: Features , Profession , Cyber , Technology , Cybercrime
printer mail-detail

Cryptocurrency watch: tiptoeing through the tulips

© Copyright LexisNexis 2026. All Rights Reserved.
129411
Could software developers be held accountable in cryptocurrency hacking cases? Lauren Pardoe considers the definition of ‘fiduciary’ in a fast-developing area of the law
  • A recent jurisdiction challenge has raised the question of whether cryptocurrency network developers are accountable as fiduciaries.
  • The Court of Appeal concluded it is possible for developers to meet the fiduciary definition.
  • This may have implications for victims of cryptocurrency fraud.

Cryptocurrency is a new and fast-developing area, in which there has to date been little in the way of judicial intervention, and in which there is little regulation. The argument lies in whether the developers of cryptocurrency networks, working on behalf of bitcoin owners, are accountable as fiduciaries if such networks are hacked, as seen in Tulip Trading Ltd (a Seychelles company) v Van Der Laan and others [2023] EWCA Civ 83, [2023] All ER (D) 27 (Feb).

Case summary

This claim was brought by a Seychelles-registered company, Tulip Trading Ltd, which is the owner of some bitcoin (valued at

If you are not a subscriber, subscribe now to read this content
If you are already a subscriber sign in
...or Register for two weeks' free access to subscriber content

MOVERS & SHAKERS

Read All
Sponsored by
Speechlive LogoClick to know more
Bellevue Law—Sara Mason

Bellevue Law—Sara Mason

Bellevue Law expands workplace law offering with specialist healthcare regulatory appointment

Seddons GSC—Peter Ames

Seddons GSC—Peter Ames

Seddons GSC strengthens Dispute Resolution team with partner hire

Taylor Rose—four promotions

Taylor Rose—four promotions

Taylor Rose announces partner promotions

NEWS
Read All
NLJ this week: Rules for robots
Pressure is mounting for a dedicated UK AI law, but deciding what it should achieve remains the central challenge
NLJ this week: Privilege holds firm
Legal professional privilege has checked the SRA’s investigative powers, exposing difficult questions about tackling suspected abusive litigation
NLJ this week: Mediation’s limits
Refusing mediation need not trigger a costs penalty, but litigators must justify their position
NLJ this week: Courtroom currents
Group claims, disputed costs and judicial recruitment dominate the latest courtroom round-up
NLJ this week: Civil shifts
Landlords face fresh registration duties as procedural reforms reshape the civil courts
Copyright © 2026 LexisNexis
back-to-top-scroll