Credit: Grandbrothers/Adobe Stock Settlers of Token: How to Draft Settlement Agreements When the Payment Is in Cryptocurrency
Entering into a settlement agreement where one party makes a payment denominated in cryptocurrency raises a host of questions that a careful lawyer must evaluate.
July 31, 2024 at 09:51 AM
8 minute read
Cryptocurrency
Disputes relating to digital assets are already common, and will only increase in frequency as the popularity of this exciting new sector continues to grow. Many such disputes are settled before or during the pendency of formal litigation, and a crucial element of a typical settlement agreement in most disputes is the payment of a negotiated amount from one party to another. Because many digital assets industry participants are comfortable transacting in cryptocurrency, they may request that a settlement agreement provide for the settlement payment to be made in cryptocurrency rather than fiat currency. Since legal practitioners may not be used to such a request, this article provides a non-exhaustive roadmap of topics to consider when settling a dispute for a cryptocurrency payment.
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