Canadian court orders $1.2M Bitcoin loan repayment
The Supreme Court of British Columbia has ordered $1.2 million in damages to be paid in a Bitcoin-related loan dispute, reflecting the growing legal acceptance of cryptocurrencies.
The Supreme Court of British Columbia has ordered defendant Daniel Tambosso to repay $1.2 million to plaintiff Hung Nguyen, thereby settling a bitter dispute over a loan of 22 Bitcoin (BTC) Tambosso took from Nguyen in September 2021.
“Mr. Nguyen is awarded damages against Mr. Tambosso for $1,240,106.22. Mr. Nguyen is also awarded court order interest on the above amount from Sept. 24, 2021,” Justice Fitzpatrick ruled.
In September 2021, Nguyen was introduced to Tambosso through a mutual friend and realized Tambosso needed to borrow some Bitcoin from him for an initiative he was pursuing. On Sept. 21, 2021, along with their respective lawyers, Nguyen loaned Tambosso 18 Bitcoin.
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Author: Pradipta Mukherjee
