Michigan Litigation Law Blog | Local Michigan and National Legal News Updates

The case highlights ongoing legal risks in the cryptocurrency space. Many early Bitcoin adopters financed their crypto holdings through high-risk investment schemes or paid others to mine on their behalf, with rewards to be shared. But without clear written agreements, it can be difficult to later prove the existence of a binding contract if disputes arise. Additionally, Bitcoin and other digital assets remain unregulated, so activities like using crypto for online gambling exist in a legal gray area. As the industry continues to mature, more definitive laws and regulations are needed to better resolve these types of contractual and consumer protection issues.