No Charges for $2.9 Million Token Transfer, Rules German Court
Main Idea
A German court ruled that a man accused of transferring $2.9 million in cryptocurrency without authorization will not face criminal charges, as German law does not classify cryptocurrency as physical property under theft statutes.
Key Points
1. A German man was accused of transferring $2.9 million (€2.5 million) worth of cryptocurrency without authorization.
2. The Higher Regional Court in Braunschweig dismissed the case, ruling that cryptocurrency does not qualify as physical property under Section 242 of the German Criminal Code.
3. The man had helped the victim set up a crypto wallet but reportedly gained access to the wallet's 24-word recovery phrase during the process.
4. The court's decision highlights a legal distinction between digital assets and physical property in German law.
Description
A German man accused of taking $2.9 million (€2.5 million) worth of cryptocurrency has avoided criminal charges .
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