Cryptocurrencies And The Irish Courts

The rise in the use and trading of cryptocurrencies continues apace. Unsurprisingly, this has led to their consideration by the courts. Here, we look at the trends emerging from recent High Court decisions.

Given their novel intangible form, cryptocurrencies have given rise to some uncertainty as to their legal characteristics, in particular whether they could be considered as 'property' or 'assets'. Therefore, disputes in the area will be inevitable, at least until the Courts provide more certainty. The Irish Courts, like the Courts in other jurisdictions, have to date taken a practical approach to ensure that traditional legal remedies, such as injunctions and disclosure orders, can be adapted to meet the needs of the growing significance of cryptocurrency in the commercial sphere.