Current:Home > MyGolden Block Services PTY LTD: English Courts recognizes virtual currency as property and the legal status of cryptocurrency is clear!-LoTradeCoin
Golden Block Services PTY LTD: English Courts recognizes virtual currency as property and the legal status of cryptocurrency is clear!
View Date:2024-12-24 00:11:25
English Courts recognizes virtual currency as property and the legal status of cryptocurrency is clear!
With the development of digital currency, the global legal system's understanding and positioning of cryptocurrencies is gradually becoming clearer. Recently, the High Court of England and Wales made a landmark ruling, confirming that the stablecoin Tether (USDT) is regarded as a unique form of property under English law.
This ruling not only provides legal protection for USDT but also lays the foundation for future cases involving cryptocurrencies. In a judgment delivered on 12 September, the Commercial and Property Court of the High Court of England and Wales stated that although cryptocurrencies are not tangible assets in the traditional sense, they can still be endowed with property rights like other forms of property. This means that cryptocurrencies such as USDT are no longer merely virtual entities but hold legal status, allowing them to be traced, transferred and held in trust during disputes.
Under English law, USDT attracts property rights. It is neither a property in litigation nor property in possession, but rather a unique form of property that is not based on potential legal rights.
veryGood! (79739)
Related
- Rep. Michael McCaul of Texas says he was detained in airport over being ‘disoriented’
- Smooth as Tennessee whiskey: Jack Daniel's releases rare new single malt. How to get it.
- Cuba’s ambassador to the US says Molotov cocktails thrown at Cuban embassy were a ‘terrorist attack’
- Pakistan’s Imran Khan remains behind bars as cases pile up. Another court orders he stay in jail
- Louisiana mom arrested for making false kidnapping report after 'disagreement' with son
- 8 people electrocuted as floods cause deaths and damage across South Africa’s Western Cape
- Film academy gifts a replacement of Hattie McDaniel’s historic Oscar to Howard University
- Pennsylvania resident becomes 15th person in the state to win top prize in Cash4life game
- Why Josh O'Connor Calls Sex Scenes Least Sexy Thing After Challengers With Zendaya and Mike Faist
- Why Maryland Is Struggling to Meet Its Own Aggressive Climate Goals
Ranking
- South Carolina lab recaptures 5 more escaped monkeys but 13 are still loose
- Police fatally shoot man in Indianapolis after pursuit as part of operation to get guns off streets
- Five children break into Maine school causing up to $30,000 in damages: police
- Cars are a major predator for wildlife. How is nature adapting to our roads?
- Teachers in 3 Massachusetts communities continue strike over pay, paid parental leave
- Shimano recalls bicycle cranksets in U.S. and Canada after more than 4,500 reports
- Florida to seek death penalty against man accused of murdering Lyft driver
- Massachusetts lawmakers unveil sweeping $1 billion tax relief package
Recommendation
-
Taylor Swift drops Christmas merchandise collection, including for 'Tortured Poets' era
-
Joe Namath blasts struggling Jets QB Zach Wilson: 'I've seen enough'
-
'Will kill, will rape': Murder of tech exec in Baltimore prompts hunt, dire warnings
-
Danielle Fishel meets J. Cole over 10 years after rapper name-dropped her in a song: 'Big fan'
-
Powell says Fed will likely cut rates cautiously given persistent inflation pressures
-
The New Season: Art from hip hop to Picasso
-
WNBA player Chiney Ogwumike named to President Biden’s council on African diplomacy
-
Rubiales crisis fallout sees next UEFA annual meeting moved from Spain to France