XM does not provide services to residents of the United States of America.

Self-proclaimed bitcoin inventor in contempt of court over $1.2 trillion UK lawsuit



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>UPDATE 1-Self-proclaimed bitcoin inventor in contempt of court over $1.2 trillion UK lawsuit</title></head><body>

Updates with judge's ruling on sentence

LONDON, Dec 19 (Reuters) -An Australian computer scientist who falsely claimed he invented bitcoin was sentenced for contempt of court on Thursday forbringing a 911 billion-pound ($1.2 trillion) lawsuit against Twitter founder Jack Dorsey's payments company Block SQ.N in Britain.

Craig Wright had long claimed to have been the author of a 2008 white paper, the foundational text of bitcoin, published under the pseudonym "Satoshi Nakamoto."

But a judge at London's High Court found in May that Wright had repeatedly lied and forged documents to support his false claim, after the trial of a case brought by the Crypto Open Patent Alliance (COPA) to stop Wright suing bitcoin developers.

COPA argued that Wright's recent lawsuit against Block and others breached an injunction preventing Wright from bringing litigation on the basis of his claim to be Satoshi or that he owned intellectual property rights over bitcoin.

The group's lawyer Jonathan Hough told the court that Wright's latest lawsuit was "a desperate publicity stunt to keep his cultish supporters engaged."

Judge James Mellor ruled on Thursday that Wright was in contempt of court, following a hearing on Wednesday which Wright did not attend.

Wright attended his sentencing hearing remotely but refused to say which country he was currently in when asked by Mellor.

The judge imposed a sentence of one year in prison, suspended for two years, for what he said was a "flagrant breach" of the court's order. Mellor also threw out Wright's lawsuit against Block and others.

Wright, who said he would appeal against the finding that he was in contempt of court, was refused permission last month toappeal against Mellor's ruling that he did not invent bitcoin.



Reporting by Sam Tobin; Editing by Jonathan Oatis and Mark

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.