Cointelegraph: UK Law Commission report challenges Craig Wright’s suit against Bitcoin developers

“The U.K. report sheds light on the definition of fiduciary duty, claiming that categories of fiduciary recognized by the law include “agents, trustees, partners, company directors, and solicitors.” The report said fiduciary duty rarely exists outside these categories. According to the BLDF, the developers’ legal representative, the defendants do not fit any criteria mentioned by the Commission.

“They are not agents, trustees, partners, company directors, or solicitors, and they never ‘undertook or were entrusted with authority to manage the property or make discretionary decisions on behalf of another person,’” BLDF stated in a recent blog post, adding that “Bitcoin was created to facilitate transactions between individuals without the need to entrust any authority to a third party.””

Read the full article at Cointelegraph