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UK courts allow NFTs documents as evidence

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TL;DR Breakdown

• D´Aloja v. Binance case will allow the serve documents in NFT
• Crypto-scams are rising in the United States and Europe, according to researchers

The High Court of England and Wales recently enabled the delivery of court documents via NFT using the Blockchain network. This measure was taken for the trial “D’Aloja v. Binance” to give privacy to the documents.

The United Kingdom authorities would accept these documents, making it the second court in the world that accepts this type of documentation. In June 2022, a court in the United States would be the promoter of these measures, and the case progressed successfully.

D´Aloja case will be allowed to use documents in NFT

NFT

The “D’Aloja v. Binance” case will have the authority to use NFT-encrypted documents. To enter the context, D’Aloja Fabrizio, who would be an engineering professional in Italy and who also acted as the creator of S.A Microgame, a web platform dedicated to betting, showed his disagreement with the crypto exchanges Polo Digital, Bitkub, Binance, and Aux Cayes for being complicit in the theft of funds. According to D’Aloja, criminals work as fraudulent brokers.

Given the complexity of the trial, the court decided that D’Aloja could present the evidence using alternative processes such as NFT documents. In addition, the plaintiff will be free to seek further evidence to support his case.

On the other hand, the group of lawyers representing D’Aloja indicated that thanks to this court update, other types of cyber fraud cases could be easily resolved. The cabinet also clarifies that this method will benefit the plaintiffs who present the case based on the Blockchain network since their evidence will gain authenticity.

Crypto-scams increase in 2022

NFT

Every day crypto-scams seem to be increasing, reaching $1 billion in the U.S. territory between 2021 and mid-2022. According to the FTC, these scams focus on fraudulent investments that, since the beginning of 2021, managed to collect about $575 million.

The statement indicates that the criminals promise investors big profits in exchange for a minimum deposit. Although the crypto project looks promising at first glance, the reality is that it is a fraudulent scheme.

Regulatory agencies have warned about this fake crypto scheme in European territory, specifically in the United Kingdom. According to investigations, at least 3,000 cases of the more than 16,000 reported since 2021 are focused on cryptocurrencies, which is alarming for regulatory agencies. The NFT market is also involved in these scams, which consist of purchasing local images based on art, music, video games, etc.

The D’Aloja case is still under discussion, but it is expected that the MicroGame representative, the company affected by the crypto theft, will show real evidence of what happened.

Carisbel Guaramato

Carisbel Guaramato

An avid content creator for over 4 years, Carisbel spends her time on blogs and technology news. She honed her skills as a social communicator and now finds crypto and blockchain news events worldwide for transmission through Cryptopolitan's neutral and incisive way.

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