What is the definition of estoppel in the context of cryptocurrency?

1 answers

• May 05, 2022 · 3 years ago
  Estoppel in the context of cryptocurrency refers to the legal principle that prevents someone from denying or contradicting a previous statement or action they made, if another party has relied on that statement or action to their detriment. In simpler terms, if someone makes a promise or representation related to a cryptocurrency transaction, and another person acts based on that promise or representation, the person who made the promise or representation cannot later deny or go back on their word. This principle helps protect individuals who may have been misled or harmed by false statements or promises made in the cryptocurrency space. It ensures accountability and promotes trust in the industry.
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