The U.K. Court of Appeal heard Tupil Trading Limited (TTL), a Seychelles-based company’s argument on Wednesday. TTL argued that blockchain engineers owe fiduciary and tortious duties to those using their network. Notably, this case has the potential to define legal obligations owed by blockchain engineers to users and thereby pave way to regain users’ lost digital assets.
While presenting TTL’s side of the argument, John Wardell KC, a member of the UK Bar Association stated:
Moreover, Wadell, while presenting his argument, stated that if there was fraudulent activity and if those who lost their asset had proof of ownership, and if the developer is paid handsomely to restore or prevent fraudsters from escaping with assets, then “can it really be said in those circumstances that its inarguable so as to be strikable that they can’t be required to reinstate access?”
Upon hearing TTL’s argument, the U.K. Court of Appeal instigated a two-day hearing to …
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Source: Cryptocurrency - investing.com
