New South Wales court allows cryptocurrency accounts as collateral for legal fees

According to Canberratimes, a court in New South Wales has allowed the use of cryptocurrency exchange accounts as collateral for legal fees. After hearing the defamation lawsuit, the court asked the plaintiff to deposit US $ 20,000 into a bank account controlled by the court. If the plaintiff loses or withdraws, this sum will pay the defendant part of his expected legal costs. The defendant's lawyer stated that the cryptocurrency account provided by the plaintiff was a highly volatile asset. Judge Judith Gibson said the volatility of cryptocurrencies is acceptable.