Celsius bankruptcy judge sees a chance for legal clarity in the U.K.
The lack of crypto regulation in the United States has long complicated the lives of users and service providers, and now a judge has acknowledged the pain the judiciary also feels from its absence. Chief United States Bankruptcy Judge Martin Glenn, the judge who is leading the Celsius case, said the court will look abroad for guidance in the case.
However, the court may consider the 529-page “Digital Assets: Consultation Paper” published by the Law Commission of England and Wales in the Celsius case in the future, as the document, filed a letter saying because there is often no legal precedence for crypto in the US, the court may refer to the UK's "Digital Assets Consultation Paper" for guidance.
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