As part of a defamation case in front of the New South Wales district court, Judge Judith Gibson allowed cryptocurrency usage as collateral and said it was a “recognized form of investment”.
As part of the defamation case, the NSW court stated the accusing party must place $20,000 AUD, or approximately $13,000 USD, in a bank account guarded by the courts. Should the accusing party lose or secede, the funds would pay for a portion of the defendant’s legal fees.
Instead of a bank account, the court allowed the plaintiff to use their cryptocurrency exchange account.
The courts also required the plaintiff to notify the defendant’s solicitor if the crypto account’s value falls south of $20,000 AUD.
Follow The Indian Sun on Twitter.
As part of a defamation case in front of the New South Wales district court, Judge Judith Gibson allowed #cryptocurrency usage as #collateral and said it was a “recognized form of #investment". #TheIndianSunhttps://t.co/yBMIN8YTL6
— The Indian Sun (@The_Indian_Sun) March 3, 2020
Donate To The Indian Sun
Dear Reader,The Indian Sun is an independent organisation committed to community journalism. We have, through the years, been able to reach a wide audience especially with the growth of social media, where we also have a strong presence. With platforms such as YouTube videos, we have been able to engage in different forms of storytelling. However, the past few years, like many media organisations around the world, it has not been an easy path. We have a greater challenge. We believe community journalism is very important for a multicultural country like Australia. We’re not able to do everything, but we aim for some of the most interesting stories and journalism of quality. We call upon readers like you to support us and make any contribution. Do make a DONATION NOW so we can continue with the volume and quality journalism that we are able to practice.
Thank you for your support.
Best wishes,
Team The Indian Sun
