London's High Court has paved the way for a case that could force its judges to take a view on who invented Bitcoin, the world's biggest cryptocurrency, which last week soared to all-time highs.
The court has allowed Dr Craig Wright, an Australian computer scientist who claims he created Bitcoin, to serve a copyright infringement lawsuit against the operator and publisher of the bitcoin.org website, which calls itself Cobra.
Dr Wright can now try to pursue his case, although the defendant might be a resident abroad and has not disclosed a name, identity or address, according to court filings issued on Wednesday, Reuters reported.
The case hinges on who wrote Bitcoin's white paper, which first outlined the technology behind the digital currency, under the pseudonym Satoshi Nakamoto in 2008.
The identity of Mr Nakamoto has long been a hot topic and Dr Wright's claim is fiercely disputed, not least by Cobra.
"Bitcoin.org isn't based in the UK and Craig's copyright claims over the white paper can be easily verified to be false," Cobra said in a message to Dr Wright's lawyers, Ontier, over Twitter on January 20, filings showed.
Dr Wright, who is a resident in Britain and says he has the evidence to support his claims, accuses Cobra of wrongfully controlling the bitcoin.org website and demanded that it remove the white paper.
"The case will turn on whether the court is satisfied that Dr Wright did indeed author and owns the copyright in the white paper and, therefore, that he is Satoshi Nakamoto," said Simon Cohen, a lawyer at Ontier.
A statement on bitcoin.org on January 21 dismissed the claims as "without merit".
"We've been threatened to take down the Bitcoin white paper by someone who obviously isn't the inventor of Bitcoin [if he was, that would make him the 25th richest person in the world, which he obviously isn't]," Cobra said by email.
"Seems like he's trying to abuse the UK courts to make them try to censor the white paper and harass small websites like us, providing education content, with his behaviour."
It remains unclear whether Cobra will reveal its identity to defend the claim and avoid any default judgment in Dr Wright's favour.
Bitcoin has gained nearly 90 per cent this year and hit a record of almost $65,000 last week.
The Porpoise
By Mark Haddon
(Penguin Random House)
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
More on Quran memorisation:
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
MATCH INFO
Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports
Company profile
Company: Eighty6
Date started: October 2021
Founders: Abdul Kader Saadi and Anwar Nusseibeh
Based: Dubai, UAE
Sector: Hospitality
Size: 25 employees
Funding stage: Pre-series A
Investment: $1 million
Investors: Seed funding, angel investors
