29 Feb Australian Court Accepts Cryptocurrency Exchange Account as Security for Legal Costs
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A court in Australia has agreed that a crypto exchange account can be used as security for potential legal expenses. Acknowledging the volatile nature of decentralized digital assets, the judge nevertheless conceded that cryptocurrency is a recognized form of investment in the current uncertain financial times.
Also read: Court Rejects Ripple’s Bid to Dismiss Class Action Lawsuit Filed by XRP Investors
$20,000 Worth of Crypto Allowed to Cover Legal Costs
Hearing a defamation claim, the New South Wales District Court was recently asked by the defendant to order the plaintiff to put $20,000 AUD (approx. $13,000 USD) into a court-controlled bank account, the Australian Associated Press reported Thursday. The money is supposed to cover some of the defendant’s expected legal costs if the plaintiff loses the case or decides to withdraw it altogether.
The court accepted the request allowing a cryptocurrency exchange account owned by the plaintiff to be…
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