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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
