Canadian Court Orders Repayment of $1.2 Million Bitcoin Loan

The British Columbia Supreme Court has ordered Daniel Tambosso to repay $1.2 million to Hung Nguyen, ending a dispute over a loan of 22 Bitcoins (BTC) in September 2021. The judge ruled that Nguyen is entitled to damages starting September 24, 2021. Tambuso initially borrowed 18 Bitcoins and then another 4 Bitcoins from Nguyen, which he was supposed to return within 48 hours. The judge noted that Tambuso was obligated to repay the loan regardless of the success of his project. This case highlights the widespread adoption of digital currencies. Recently, courts in the United States and Dubai have also issued rulings supporting digital currency transactions. However, to protect investors, cryptocurrency exchanges will continue to be monitored.