Crypto Disputes Report 2025
Trends, challenges, and projections
CMS has analysed the 158 High Court crypto claims issued between 2017 – 2024 to identify trends in the claims and ensuing judgments. Download our report to read our commentary on the latest claims and judgments.
“As cryptoassets move further into the mainstream, we are seeing a broader range of disputes and increasingly significant judgments. This report offers a data-driven view of the key judgments and trends shaping the future of crypto litigation in England.”
Kushal Gandhi
Partner
TL;DR
1. Crypto disputes determine our law: England and Wales is a common law jurisdiction, meaning much of our law comes from judgments. It follows that crypto disputes are determining our law on crypto.
2. Claim numbers: This year has seen the highest ever number of crypto-related judgments.
3. Underlying issues: Fraud claims have made up a smaller proportion of issued claims each year from 2021 to date.
4. Key judgments: COPA v Craig Wright is the case that dominated the headlines this year, but D’Aloia v Persons Unknown is essential reading for any exchange.
5. Future outlook: As crypto enters the mainstream, we expect to see a greater volume and depth of claims being litigated. Just as claimants see banks as defendants with “deep pockets”, they may increasingly look to cryptoexchanges or to tradfi institutions that incorporate crypto offerings.
"With many cryptoassets at all time high values, the stakes have got much higher in the last year and we expect to see more disputes going the distance as a consequence"
Charles Kerrigan
Partner
