United States:
Risks And Considerations When Storing Crypto-Assets
21 February 2019
Reed Smith
To print this article, all you need is to be registered or login on Mondaq.com.
Following the sudden death of its co-founder and CEO, Gerald
Cotten, in December 2018, Quadriga, Canada's largest
cryptocurrency exchange, is unable to gain access to about $145
million of bitcoin and other digital assets. Quadriga reports that
Cotton stored the digital assets in a "cold wallet" on
his encrypted laptop and repeated attempts by his widow to gain
access to the laptop have proven unsuccessful.
Quadriga has been forced to stop trading on its platform, which
has affected its ability to serve its customers. The company is
attempting to obtain an order for creditor protection in accordance
with Canada's Companies' Creditors Arrangement Act to
provide it with an opportunity to resolve this issue.
To review the full article on our FinTech Update blog, click
here.
This article is presented for informational purposes only
and is not intended to constitute legal advice.
POPULAR ARTICLES ON: Technology from United States
Risks And Best Practices For GenAI In The Workplace
Nyemaster Goode
Generative artificial intelligence, or GenAI, is moving into all facets of life—including the workplace. Employees are using GenAI now. To mitigate GenAI legal risks, employers need to set up...
AI Legal & Regulatory News—Week Of 3/25/24
Steptoe LLP
Below is this week's tracker of the latest legal and regulatory developments in the United States and in the EU. Sign up here to ensure you do not miss an update.
The Impacts Of Chat GPT On Corporate Litigation
Butler Snow LLP
Artificial intelligence ("AI") is one of the most rapidly developing components of the technology sector. This is especially true within the last five years, as evidenced by the increased...