Litigation Notes On Bitcoin And Other Cryptocurrencies

Cryptocurrency is evolving and with that, a plethora of legal issues are likely to arise. That will undoubtedly create the requirement for courts to apply not only new remedies to address claimed wrongdoings related to cryptocurrency transactions but, in addition, the use and expansion of existing remedies.

WHAT IS BITCOIN?

Bitcoin is perhaps the most widely known cryptocurrency. In 2009, Bitcoin was created as an open-source, peer-to-peer digital currency, meaning the control and computer code is open to public view, transactions do not require a third-party intermediary and it's electronic, with no physical manifestation. The Bitcoin system is private, without any central controlling person or entity. The network is completely decentralized, with all parts of transactions performed by system users. While Bitcoin offers users the advantages of lower transaction costs, long-term protection of loss of purchasing power from inflation and increased privacy, it also