November 15, 2024

Australian court finds cryptocurrency legal investment

Australian court finds cryptocurrency legal investment

The New South Wales State Court has authorized the use of cryptocurrency to pay bail.

During the libel trial, Judge JudithGibson obliged the plaintiff to deposit 20 thousand Australian debts into a controlled account to cover legal costs, in case the defendant's guilt was not proved. Having approved the lawyer's request to use digital currency as a pledge for the indicated amount.

Announcing her decision, Judith Gibson said that cryptocurrency was “an established form of investment.”

At the same time, she took into accounthigh market volatility, obliging the plaintiffmonthly, provide defendant's lawyers with a statement of their investment account, with reserved funds, as well as promptly notify them if its value drops below 20 thousand Australian dollars.

Failure to comply or violation of these conditions may result in a charge of contempt of court.

Let us recall that Craig Wright recently announced his intentions to obtain through the court the copyrights to distributed Bitcoin databases and Bitcoin Cache, of which he allegedly is the creator.

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