‘English translation of the Mt Gox judgment on the legal status of bitcoin prepared by the Digital Assets Project’

“The Digital Assets project, run through the Commercial Law Centre at Harris Manchester College, has produced an annotated English translation of the judgment of the Tokyo District Court in August 2015 in relation to the insolvency of Mt Gox. It is a highly significant judgment, in that there are still very few judicial pronouncements anywhere in the world directly on the nature of bitcoin as property, nor on the position of clients when a bitcoin exchange becomes insolvent. It is, of course, purely about Japanese law, and, as has been pointed out by several commentators, only a decision of a lower court in Japan. It is open to criticism, and overruling if a similar case is taken to a higher court. Despite this, it is useful as a reference point to those engaging in the debate about the nature of bitcoin and the relationship between clients and bitcoin exchanges …” (more)

[Louise Gullifer QC, Commercial Law Centre Blog, 6 February]

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