A new court ruling involving the real estate agent Bitcoin market was in favor of the company’s customer, who lost his bitcoins on the platform.
The case, as already reported by Livecoinsit turns out that the customer kept his bitcoins in Mercado Bitcoin. However, when he accessed his account in 2020, he realized his balance was zero and became desperate.
By refusing to return the value in bitcoin to the customer, Mercado Bitcoin argued that it has no assets and does not ‘manufacture’ them, making the platform available only to users.
When the broker was questioned by the report in late 2023, he preferred to attack the vehicle rather than provide concrete answers on the matter. Now, after the second instance conviction, it is clear that his defense deviates from the reality found in Brazilian courts.
Mercado Bitcoin tried in court to return the value in Real to the customer, but the decision stipulated the return of digital currency and the payment of a fine
Although the The Bitcoin market does not agree to return the 0.88094998 BTC of your client and wants to convert the restitution obligation to Real, the court judges of SĂŁo Paulo completely disagreed with this. It is worth emphasizing that with the price of Bitcoin today its value corresponds to R$523 thousand.
This is because the new decision of last Thursday (28) indicates so the Bitcoin market only demonstrates non-conformity with the conceptwhere the discussion is now completely over.
In August 2024, the Livecoins had already registered in this same case, Mercado Bitcoin had to return the value in bitcoin. In addition, in case of non-compliance, you must pay a daily fine of R$1,000, with a maximum of R$100,000.
Now that the appeal has been rejected, everything indicates that the broker will have to refund 0.8809 bitcoins to the customer and also pay R$100,000 in fines. The decision can still be appealed justice and the space remains open if the agent wishes to comment.
What does the lawyer say for the client who lost his bitcoins at the second largest brokerage in Brazil by volume?
In conversation with the Livecoinsthe cryptocurrency lawyer Rafael Souza stated that the decision made after Mercado Bitcoin appealed is important for the cryptocurrency market.
“This second-instance decision is important for the cryptocurrency market in Brazil. It reaffirms the obligation to comply with judicial orders in the same traded asset, thus protecting the creditor’s rights in the face of Bitcoin’s volatility. If the concept of payment in reais were to prevail, the debtor could benefit from the increase in the value of the digital currency, which would be an injustice to the injured party. This position of the judiciary shows maturity in dealing with the legal challenges of the cryptoactive market.”
It’s worth highlighting that, according to data from Crypto market brokers by LivecoinsMercado Bitcoin is the second largest broker by trading volume.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
