Tales from the Crypt: Cryptocurrency and a case review of Canadian Imperial Bank of Commerce v. Costodian Inc. et al.
The wild swings in cryptocurrencies have created ripple effects in the world’s economy. This new type of currency has grown in value and popularity, in part, by the increased adoption by retail and institutional investors alike. There is little doubt that litigation will follow. One recent case is Canadian Imperial Bank of Commerce v. Costodian Inc. et al. Justice Hainey’s decision is quite interesting, because it provides a concise summary of how the respondent cryptocurrency exchange functioned and how complicated the process really is.