Cryptocurrencies: A Collectors' Item, Currency Or Just Data And Information?

Many people trade in and invest using cryptocurrencies (like BitCoin), and one of the most fundamental questions underpinning those transactions is what cryptocurrencies actually are from a legal perspective.

The answer to this question has significant ramifications for all those owning or dealing with cryptocurrencies, and for a number of reasons ranging from security and fraud prevention to wealth management and tax (and much more).

This question of what they are from a legal perspective was considered this year by the High Court in the case of Liam David Robertson v Persons Unknown.

Firstly, we should note that cryptocurrencies are not strictly speaking a ‘currency’, nor are they intellectual property rights and they don't even fit into the definition of ‘personal property’. In fact, bizarrely, cryptocurrencies don't really seem to neatly fit into any category of asset or property whatsoever. That makes them tricky and, to a large extent, dangerous as an