What are the potential legal consequences of estoppel by silence in the cryptocurrency industry?

1 answers

• May 22, 2022 · 3 years ago
  Estoppel by silence is an important legal concept in the cryptocurrency industry. When a party remains silent in response to a statement or representation made by another party, it can be seen as an acceptance of the statement. This can create legal obligations and potential liabilities for the silent party. For instance, if a cryptocurrency exchange fails to respond to a user's request for a refund, it may be deemed to have accepted the request and could be held liable for any losses incurred by the user. It is essential for cryptocurrency businesses to be aware of the potential legal consequences of estoppel by silence and to ensure timely and clear communication to avoid any legal disputes or liabilities.
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