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Australian Judge Says Crypto Is a Legitimate Investment Vehicle

As part of a defamation case in front of the New South Wales, or NSW district court, Judge Judith Gibson allowed cryptocurrency usage as collateral.


“This is a recognized form of investment," Gibson said of cryptocurrency, also acknowledging its volatility, according to a brief from the Australian Associated Press.

The plaintiff vies for crypto usage


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. Read More...

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