We are the Crypto
Fraud and Asset
Recovery Network

There is little doubt that the world of crypto tokens and smart contracts has been one of the big technical, financial and legal developments of recent years. There is, therefore, a need for many in law and finance to be taking a closer look in order to understand what these are and their possible effects.

The appointment of provisional liquidators and winding-up in Fritz v Lykke Corp UK highlights the power of insolvency remedies in crypto cases and the value of collective action by victims. It is thought to be the UK’s first crypto exchange winding-up.

Until recently, the US federal government has lacked both consistency and support for digital assets. Agencies have each defined the term “digital assets” differently, leaving the industry with conflicting interpretations depending on the regulatory agency involved. This lack of clarity has caused jurisdictional disputes, compliance challenges, and enforcement difficulties.

The regulatory landscape for digital assets is becoming increasingly clear. As we enter 2025, the clarity long sought by the industry is emerging. 

The High Court judgment in D'Aloia v. Persons Unknown and others [2024] EWHC 2342 (Ch) is arguably the most significant crypto judgment of 2024.