UK Court Permits Legal Documents To Be Presented In The Form Of NFTs

Zinger Key Points
  • Fabrizio D'Aloia, the founder of Italian digital gambling firm Microgame, was victim to a $2.33 million in crypto.
  • The High Court of England and Wales has granted D'Aloia to sue the parties via an NFT drop.

Fabrizio D'Aloia, the founder of Italian digital gambling firm Microgame, has been granted permission to undertake a lawsuit via NFTs against anonymous parties.

What Happened: The U.K.’s recent ruling permits wallet addresses to be used in legal proceedings against anonymous parties. The High Court of England and Wales granted D'Aloia to present legal paperwork to two unknown individuals, via their wallet addresses. As the majority of scams and illegitimate acts in the crypto space are associated with wallet addresses, this legal ruling is a major advance for the security of the crypto sector.

D'Aloia was a victim of a $2.33 million fraud, being duped to deposit 230,000 USDC USDC/USD and 2.1 million Tether USDT/USD into two unknown wallets. Thus, England’s High Court granted him the right to sue the parties via an NFT, containing legal documents, sent to the two wallets.

As revealed by CoinDesk, Joanna Bailey, a part of this case’s legal team, stated: “This is so important because it shows the court's willingness to adapt to new technologies and embrace the blockchain and actually step in to help consumers where previous legislation and regulators simply could not do that.”

Therefore, as the crypto space continues to expand across numerous industries, this legal ruling is a step in the right direction for legal authorities in protecting investors.

Posted In: CryptofraudUSDCUSDTCryptocurrencyNewsMarkets

Visit Benzinga's Crypto Homepage - 1,000,000+ depend on Benzinga Crypto every month