UK court rules Tether is property in first English law post-trial crypto ruling
It comes a day after a UK government bill aimed to clarify that crypto was “personal property” under property laws.
A United Kingdom High Court has ruled that stablecoin Tether is property — the first-ever ruling under English law on the treatment and status of cryptocurrency after a full trial.
The legal status of Tether (USDT) was a preliminary issue in a case brought by a fraud victim whose stolen crypto — including Tether — was offloaded through various crypto exchanges after being put through crypto mixers.
“USDT attract property rights under English law,” High Court of Justice Deputy Judge Richard Farnhill said in the Sept. 12 ruling.
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Author: Brayden Lindrea
