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...