Determining Liability When a DAO is Sued
Does distributed presence create distributed liability? Does participation in a blockchain based decentralized autonomous organization (DAO) subject you to worldwide liability? While a one-sized fits all rule isn't possible, it may help to understand what jurisdiction means and how Courts acquire it.[1] (If you're trying to understand why this even matters, you'll find this author's views on the subject in an earlier post titled "How to Sue a DAO"). 1. What is jurisdiction anyway? Jurisdiction refers to a Court's authority to apply laws to disputes between parties and to do so in....
Related News
When crypto companies are denied liability insurance, they are disincentivized from innovating.
Gemini, a cryptocurrency exchange, is being sued by the CFTC on allegations of false statements made to obtain certification for bitcoin futures contracts.
A British jeweler has sued its insurance company for refusing to cover a bitcoin ransom payment of $7.5 million. The jeweler paid the hackers to prevent sensitive customer data from being published.
Insurance Company Faces Lawsuit for Refusing to Cover Bitcoin Ransom Payment
A luxury British Jeweler, Graff, has sued its insurer, The Travelers Companies, for refusing to cover a ransom bitcoin payment, Bloomberg reported last week.
The jeweler paid a bitcoin ransom of $7.5 million to the Russian hacking gang Conti after the group threatened to leak data of the....
Bitcoin investor and founder of software company MicroStrategy Michael Saylor are being sued for alleged tax fraud, according to a complaint filed by the United States D.C. Attorney General Karl Racine. The billionaire has been living in this state for around ten years, the government official said but has allegedly failed to meet tax obligations. […]
The monetary authority in Moscow, the Bank of Russia, wants those who use cryptocurrencies against the law to be held accountable. The financial regulator has proposed the introduction of legal liability for some operations with digital assets which it considers illegal.
Central Bank of Russia Aims to Prevent Circulation of Decentralized Currencies
Cryptocurrencies in the Russian Federation, as well as related activities, remain only partially regulated, mainly through the law “On Digital Financial Assets,” which went into force at the beginning of this year. One....