Digital Currency - Litigation
Bitcoin has taken the technological world by storm but it hasn’t been without its challenges. The first few years have been relatively turbulent, leading to a number of disputes and litigation involving Bitcoin (and other crypto currencies).
The collapse of leading Bitcoin exchange in Japan, Mt Gox, and of the UK exchanges Moolah and MintPal, has a number of court actions. The expert team at Selachii is acting for a group of clients who lost money as a result of their collapse: we are currently working on a class action lawsuit against the management of Mt Gox claiming negligence and fraud.
The specialist Bitcoin team at Selachii have a niche practice specialising in digital currency litigation. Many problems have arisen because digital currency is simply unregulated. Where there is no regulation, there are significant risks.
Disputes involving digital currency may arise in relation to, for instance:
- the contractual relationship between the parties
- a claimant trying to recover Bitcoins or access to a private key
- a criminal matter such as fraud or money laundering
- divorce, if a party is allegedly using digital currency to hide assets
- hiding assets in the course of commercial litigation
- an issue of company or commercial law
- intellectual property such as patents
How the court will approach your dispute much depends on matters of jurisdiction and relevant local laws. By its very nature, digital currency litigation frequently involves jurisdictional issues. In fact, jurisdiction is often one of the concerns for businesses using crypto currency because of its significance if a dispute were to arise.
Legal action depends not only on the nature of the dispute, but the jurisdiction of both the agreement and the parties to the dispute. If the key (or copies of the key) are stored in more than one jurisdiction, it is best to commence action in the fastest, most cost effective jurisdiction. Once the issue of jurisdiction is resolved, the substance of the dispute can then be dealt with.
Whatever the dispute, our specialist digital currency litigation lawyers have the expertise to represent you. We will take full details of the circumstances leading to the dispute and advise on how best to resolve the matter. If it becomes necessary, we will take aggressive action in the courts to best protect your interests.
How Selachii Can Help
Selachii is a dynamic litigation law firm based in Kensington, London. Our dispute resolution team is highly experienced digital currency disputes. We put the best interests of our clients at the heart of everything we do. We work with both businesses and private individuals, giving them legal advice and support which is unique to them and their situation.
We don’t believe in simply handing out one-size-fits-all solutions to problems. We will focus on your specific circumstances before working out the best and most cost-effective way of helping you achieve your aims.