Cryptocurrency and Jurisdiction
With Cryptoassets being stored in wallets and exchanges around the world, the location of such assets will fall to be considered when pursuing a claim for recovery.
Jurisdictional Issues
When considering pursuing an action for recovery and/or applying for interim remedies, it will be necessary to determine:
- The location of the intended defendant(s)
- The location of the digital assets, which may be in various locations around the world
- Whether any digital assets have been converted into cash
- Whether English Courts have jurisdiction to deal with the proposed claim
- Whether or not any restrictions affecting service outside of the Jurisdiction apply
Determination of Jurisdiction
When considering whether to grant permission for service out of the Jurisdiction, the courts will consider whether, or not:
- The claim has a real prospect of success, rather than a fanciful one (a similar test for applications for Summary Judgement in the civil courts
- There is a good arguable case; and
- Upon the evidence,
- England is the appropriate forum for the trial of the dispute, and
- the Court ought to favourably exercise its discretion.
Who Can I Contact For Help?
The Team at Kangs Solicitors regularly advises and assists clients facing issues concerning Cryptocurrency and is well versed in pursuing Interim Remedies, claims for Recovery and seeking permission from the Court to serve outside of the Jurisdiction.
Tel: 0333 370 4333
Email: info@kangssolicitors.co.uk
We provide initial no obligation discussion at our three offices in London, Birmingham, and Manchester. Alternatively, discussions can be held through video conferencing or telephone.
