Archive: March 2022

The latest instalment in the Tulip Trading v Bitcoin Association litigation has been greeted with relief by many in the blockchain community, after the High Court threw out a claim that bitcoin developers (including several bitcoin forks) owed a duty of care or a fiduciary duty to an alleged owner of bitcoin. But the Court did not rule out duties being owed in other circumstances – distributed ledger technology developers, miners and users should all beware that the risk of unexpected liability has not been completely eliminated.

The Court of Appeal held that the duty can apply in principle where an individual gives the bank a payment instruction relating to their own account.

As published in the International Journal of Blockchain Law, our New York and London Commercial Disputes teams have collaborated to consider how you can spot and manage litigation risk in DeFi.

Potential areas for dispute in financial transactions arising in connection with the new sanctions regimes imposed following the Russian invasion of Ukraine.

There are now conflicting High Court authorities on whether additional claimants can be added to group or multi-party litigation without permission under CPR 17.1

The Supreme Court confirms a broad interpretation of the tort gateway for jurisdiction over foreign defendants creating more opportunity for claimants to bring proceedings in England

While the High Court declined to order security in bitcoin, the decision leaves the door open to future applications.