Supreme Court of British Columbia Orders Bitcoin Loan Repaid

The Supreme Court of British Columbia has ordered Daniel Tambosso to pay $1.2 million to Hung Nguyen over a Bitcoin loan dispute. Tambosso borrowed 22 Bitcoin from Nguyen in September 2021, agreeing to repay the loan within 48 hours. However, he failed to do so, leading to the court ruling in Nguyen’s favor. The case highlights the growing legal recognition of cryptocurrencies.

“Mr. Nguyen is awarded damages against Mr. Tambosso for $1,240,106.22. Mr. Nguyen is also awarded court order interest on the above amount from Sept. 24, 2021,” Justice Fitzpatrick ruled.

Courts worldwide are increasingly accepting crypto-related cases. Recent rulings include the U.S. Supreme Court siding with Coinbase and a Dubai court recognizing salary payments in crypto under employment contracts.