In their article published by the IBA Insolvency and
Restructuring International Magazine titled "Russia:
Cryptocurrency and Bankruptcy Estate", Sergey Treshchev and
Elena Malevich of Squire Patton Boggs, Moscow analyse recent
decisions in the Russian courts considering whether
cryptocurrencies are an asset which form part of the bankruptcy
estate.
Given the speed at which cryptocurrency has grown as a concept,
it is of no surprise that bankruptcy and insolvency legislation has
yet to catch up and define just what cryptocurrency is and
therefore how it should be treated in a debtor's bankruptcy or
corporate insolvency. Not just in Russia but internationally.
As courts worldwide grapple with the concept of whether
cryptocurrency should be treated as an asset or currency, there is
no uniform view. In the U.S., for example, some bankruptcy courts
concluded that they should be treated as currency: HashFast
Technologies, LLC v. Lowe (In re HashFast Technologoes, LLC),
B
