Cryptocurrency is becoming more mainstream. However, the law has not kept pace with the technology, leaving a vacuum, akin to a “Wild West”. In the recent decision, Cicada 137 LLC v. Medjedovic, 2021 ONSC 369, Justice Myers touches upon the issue of litigating cryptocurrency, an area that is under regulated.
In Cicada, it is alleged that the defendant stole money ($15 million in cryptocurrency tokens). In handling the interlocutory matters, Justice Myers notes that there are different theories on when cryptocurrency can be considered stolen. At paras 5-6, Justice Myers writes that one theory is that if . . . [more]