Digital Chamber amicus brief urges dismissal of NY lawsuit over 39,069 Bitcoin wallets

The Digital Chamber filed an amicus brief urging the dismissal of the New York lawsuit seeking ownership of 39,069 dormant Bitcoin wallets, arguing it would set a dangerous precedent for self-custodial wallets.

Blockchain trade association the Digital Chamber filed an amicus brief in the New York lost property case seeking ownership of thousands of dormant Bitcoin addresses. 

The Monday filing is the second amicus brief in the case. It opposes the claims of ownership, arguing that treating dormant wallets as abandoned property would create a “pervasive cloud on title across self-custody wallets.”

Digital Chamber argues that a ruling based on the plaintiffs’ theory would undermine the “foundational principles of digital property ownership, with negative ripple effects reaching the traditional finance industry.”

Read more