Legal status of crypto assets

What is an injunction?

An injunction is an order by the court that restrains a party from carrying out a certain act, such as invading the legal right of another. In some instances, an injunction may actually order a party to carry out a certain act, such as compensating an injured party. 
In the context of crypto related disputes, the question of whether an injunction may be granted depends on whether or not the crypto assets constitute the legal definition of "property". 

Legal definition 

"An equitable remedy in which a court orders a party to perform, or refrain from performing, a
particular act. A prohibitory injunction is an order forbidding a party from performing an act; a mandatory injunction is an order to perform an act. An injunction may be temporary, in place until judgment is entered (called a preliminary injunction in the US and an interim injunction in the UK), or permanent, continuing after the conclusion of proceedings either perpetually or until a specified date (a final injunction). Courts usually grant injunctions as final remedies only where the applicant demonstrates that:
  • Its legal right has been infringed (or is about to be infringed).
  • Money damages are inadequate compensation.
An injunction needs to be in clear terms so that a party can understand what it must, or must not, do. If a party violates the terms of an injunction, it may be held in contempt of court."