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Cryptocurrency as security for costs

March 15, 2020

A judge in New South Wales has granted a claimant permission to use cryptocurrency to satisfy a AU$20,000 order for security for costs.

The Plaintiff acknowledged that he was not ordinarily resident in Australia, and acquiesced to the Defendant’s application that he provide security for costs. The court permitted the Plantiff to use cryptocurrencies to satisfy the consequential order for security for costs, despite the Defendant’s concerns as to the volatility of the assets.

A copy of the judgment in Hague v Cordiner (No. 2) [2020] NSWDC 23 can be found here.