Cryptocurrencies: watch this space?

David Jones & Evie Meleagros consider the progress & challenges of cryptoasset cases in the courts of England & Wales

In the eyes of law, cryptocurrency has so far been treated as property. However, there are still issues when it comes to recovering or enforcing it, because it is intangible and decentralised.
Crypto-fraud has been on the rise in recent years and has been tricky for the courts to deal with, because while they are willing to adapt the framework to help victims, they are rarely able to get participation from defendants.

When it first started trading, the initial price for one Bitcoin was less than a dollar. At the time of writing, that price is just over $18,000 per unit having settled from a previous high of almost $50,000. The rise of Bitcoin and other cryptocurrencies has been coupled with a rise in crypto-related crime, which has created the need for redress in the courts. Consequently, the demand for freezing orders and proprietary injunctions

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

Cryptocurrencies: watch this space?

Issue: 8005 / Categories: Features , Profession , Cyber , Technology , Property

David Jones & Evie Meleagros consider the progress & challenges of cryptoasset cases in the courts of England & Wales

In the eyes of law, cryptocurrency has so far been treated as property. However, there are still issues when it comes to recovering or enforcing it, because it is intangible and decentralised.
Crypto-fraud has been on the rise in recent years and has been tricky for the courts to deal with, because while they are willing to adapt the framework to help victims, they are rarely able to get participation from defendants.

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

SourceURL:

Links:

E-newsletter Sign-Up

MOVERS & SHAKERS

Read All

Haynes Boone—Louise Woods

Haynes Boone expands global capabilities with addition of Louise Woods as chair of international disputes

DWF—John Gilfedder

DWF strengthens Global Risks practice with strategic hire of aviation partner in London

Shakespeare Martineau—10 newly qualified solicitors

Shakespeare Martineau appoints newly qualified solicitors

NEWS

Read All

NLJ this week: The cost of uncertainty

When does a solicitor’s retainer become a contentious business agreement? The Court of Appeal’s decision in Broadfield Law UK LLP v Barnes shows that listing hourly rates alone will not do, leaving firms and clients uncertain about their rights over bills

NLJ this week: Parliament’s curious exit

MPs cannot simply resign their Commons seats. Instead, they take a nominal Crown office, usually the Chiltern Hundreds or Manor of Northstead, which disqualifies them from sitting

NLJ this week: Family ties count

A divorced woman has secured funding to participate in her former husband’s inquest after the Legal Aid Agency reconsidered repeated refusals

NLJ this week: Thirlwall inquiry’s unfinished business

The Thirlwall Inquiry has exposed a ‘complete failure’ to protect babies at the Countess of Chester Hospital, but its recommendations must now be put into practice

NLJ this week: Planning’s direct route

Developers in areas with poorly performing councils can apply directly to the Planning Inspectorate for permission under section 62A of the Town and Country Planning Act 1990

Error message

Cryptocurrencies: watch this space?

MOVERS & SHAKERS

Haynes Boone—Louise Woods

DWF—John Gilfedder

Shakespeare Martineau—10 newly qualified solicitors