Number of crypto-related disputes before English courts on the rise #togrp7
Following a recent judgment in a dispute over the ownership of an account worth around £30 million ($36.4 million), a legal expert has said that the English courts have swiftly adapted to the ever-increasingly complicated challenges concerning crypto assets. Notably, there has been a “flurry” of cases brought before English courts in the years after the UK Jurisdiction Taskforce published.
This case arises as a result of HDR Global Trading Ltd. asking the High Court to decide whether the owner of an account established on HDR’s trading platform, BitMEX, belonged to Nexo or its former director, Georgi Shulev. When Nexo’s board replaced Shulev as a director, HDR was forced to freeze the account, resulting in a dispute over possession of the account. It highlighted the increasing prevalence of settlement agreements involving cryptocurrency or technology-related matters and the requirement.#togrp7