UK Court of Appeals clears way for a trial in a contentious legal battle between Craig Wright's Tulip Trading and Bitcoin developers over alleged fiduciary duties
a claim made by Craig Wright's Tulip Trading against a slew of Bitcoin developers to go to trial, clearing the way for a contentious legal showdown., alleges that the developers owe Wright fiduciary duties, according to English law.
The suit stems from the self-proclaimed Satoshi's claim that he lost billions of dollars worth of Bitcoin in a wallet that is tied to the hack of the failed Mt. Gox exchange. According to the Court of Appeals, the claim presents a"serious issue to be tried" and cites four grounds for the appeal to succeed, including that the relevant area of law is developing, uncertain and complex, and thus warrants a trial.
In light of the ruling, Stephen Palley, a prominent lawyer in the blockchain and cryptocurrency space,on the case, stating that the English Court of Appeals' holding that software developers"may" have fiduciary duties"raises a serious issue to be tried.""Before anyone gets incredibly excited about this I'd just like to point out that the principle here is maybe not as groundbreaking as it sounds.
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