Is the decentralised governance of Bitcoin a myth? Court of Appeal finds real issue to be tried as to whether developers owe fiduciary duties to Bitcoin owners

In the latest development in a line of cases involving Dr Craig Wright, who claims to be the creator of the Bitcoin system, the Court of Appeal has held that there is a realistic argument that Bitcoin developers, while acting as developers, owe fiduciary duties to the true owners of that property, which could include … Read more

High Court orders delivery up of stolen Bitcoin against crypto exchange

The High Court held, on an uncontested summary judgment application, that the crypto exchange controlling the wallet into which the claimant’s stolen bitcoin was transferred sat in a position of constructive trustee as against the claimant. It ordered delivery up of the bitcoin as against the fraudsters as well as the exchange: Jones v Persons … Read more

Freezing orders brought onto the blockchain and service of proceedings via NFTs

The challenge of enforcing court orders in respect of cryptocurrencies may become easier, following the settlement announced last week between the Bitcoin Association for BSV and Tulip Trading Ltd (TTL). This follows the significant case brought by Dr Craig Wright against a number of blockchains and their developers in 2021: Tulip Trading Limited v Bitcoin … Read more

How to navigate the Autonomy judgment: guidance for corporate issuers defending Section 90A / Schedule 10A FSMA shareholder claims

The High Court has handed down its long-awaited judgment in the US$5 billion civil fraud action brought by the Hewlett Packard group in connection with its acquisition of the UK software company Autonomy Corporation Limited in 2012: ACL Netherlands BV & Ors v Lynch & Ors [2022] EWHC 1178 (Ch). The judgment follows a previously published Summary of Conclusions, … Read more