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Role of Expert Witnesses in Cryptocurrency Litigation

     By HG.org

When cryptocurrency is part of a claim either for illegal activity or to when the plaintiff needs compensation for online transactions, an expert is necessary to explain what this type of online currency is and how it affects the case. The role of this expert witness often has a greater impact in clearing confusion about what and how cryptocurrency is and works.
The trials, crimes and injury to others that involve cryptocurrency are often the most confusing types of litigation that a courtroom will need to deliberate upon. Because of this and the need to explain what and how a person uses cryptocurrency along with currency schemes, an expert witness is generally necessary. He or she may need to provide additional details, explain what the currency is and how it was part of the injury that led to the lawsuit. Through his or her experience and knowledge of the internet and networking, the professional may clarify the information supplied so that the jury or judge may deliberate with all the knowledge needed.

Cryptocurrency in Litigation

The digital forms of money used online have various specific names such as Bitcoin, but they are all cryptocurrency. The individual or company may invest in an online company that creates and supplies others with the online transactional currency. However, it is possible for a person to use the cryptocurrency to commit crimes and injure others. It is through this type of activity that litigation occurs. However, some investors may press for a claim against the online company if they receive no return on their investment to include forms of cryptocurrency to compensate for the financial investment.

The Cryptocurrency Explanation and the Lawsuit

Cryptocurrency is a form of online currency that several criminals may use to harm others through various currency and transactional schemes. The scam is to exchange online currency that could exist for real funds or performing the opposite.

Thousands or even millions in funding may provide a person with cryptocurrency investments with the online company attached to the formation or creation of the transactional money. Committing these crimes often harms others. If the person sells nonexistent cryptocurrency to another, he or she is often able to steal income. However, the individual may perform a number of illegal acts online through the use of cryptocurrency and still harm companies or a single person.

When committing fraud, embezzlement or any number of other currency scams, the person usually harms another or a company economically. By doing so, the individual may face litigation if the plaintiff is able to prove that the defendant is responsible for the harm. By hiring a lawyer, the client may have access to an expert witness hired specifically for cryptocurrency cases. Then, the professional may explain the matter to the courtroom, and it is clearer how the activity of the defendant caused the economic damages to the plaintiff. The expert may need to demonstrate these matters through a computer or other technology.

Litigation Complications with Cryptocurrency

Some problems exist with cryptocurrency claims when a person or company suffers an injury of some form. These lie in evidence with online transactional currency in the form of cryptocurrency. The companies that create and distribute concepts such as Bitcoin may also provide options to hide the tracks of the owner or any interactions or exchanges of the online funding. Other online businesses may supply a person with this possibility to ensure that the money is available either through investment or purchase and to hide the user or client. This may increase the possibility of a crime occurring such as fraud, tax evasion and various types of theft.

Continued problems increase or add to the litigation if the evidence does not exist. Even with an expert witness working to gather as much support for the case, the proof that a crime occurred may still elude the plaintiff. This could increase the need for the expert to explain that the defendant did harm the victim even if no transactional records are available.

Expert Witness Role Importance in Cryptocurrency

Because cryptocurrency claims are complex and difficult to understand, the role of the expert witness is significant. He or she has the task of clearing up confusion, explaining if a trace of evidence disappears or does not exist and how the plaintiff experienced an injury. The economic impact of the actions of the defendant may become clear through the testimony of the cryptocurrency expert witness in litigation cases when the injury is serious.

Copyright HG.org


While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer.

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