THE DEFINITIVE GUIDE TO DIGITAL ASSET DISPUTES IN THE UAE
As the United Arab Emirates cements its status as a global crypto hub, its judiciary faces a critical challenge: applying established legal principles to a novel, fast-developing asset class.
In UAE Crypto Litigation, Mahmoud Abuwasel provides the first systematic analysis of this judicial evolution. Drawing on a comprehensive review of over 100 judgments, the book reveals the “judicial pragmatism” of UAE courts; demonstrating how judges look past technological novelty to the underlying economic substance of a transaction.
Structured along the seven-part lifecycle of a commercial dispute, this treatise covers:
Judicial Precedent: Detailed breakdown of how courts treat asset characterization, liability, and fraud.
Regulatory Insight: Comparative analysis of VARA, SCA, and CBUAE regimes.
Practical Strategy: Forward-looking guidance on contractual risk mitigation and transaction architecture.
Global Relevance: Essential lessons on the interplay between civil and criminal law in digital finance.
Essential reading for legal practitioners, arbitrators, and investors navigating the digital asset market in the UAE and beyond.
Part I: Foundational Principles and Characterization
Chapters 1 – 12.
The Nature of Over-the-Counter Transactions
Investment or Personal Loan?
Defining the Investment Relationship
Distinguishing Agency from Deposit
Distinguishing Loan from Partnership
Loan vs. Partnership in the Absence of Express Terms
Peer-to-Peer Sale or Fraudulent Scheme?
Defining Fraud: Puffery vs. Deception
The Valuation of Digital Assets Against Fiat
Title and Ownership in Failed P2P Transfers
The Burden of Proof for Wallet Ownership
Implied Service in Asset Mining Agreements
Part II: The Nature and Validity of Agreements
Chapters 13 – 22.
The Formation and Nature of Agreements
Enforcing Oral Management Agreements
Enforcing Unlicensed Management Agreements
Enforcing Oral Speculation Agreements
Debt Novation in Crypto Trading
Market Volatility and Force Majeure
Liability for Compromised OTP Authentication
Partnership vs. Payment for Services
The Status of Unsigned Contracts
Grounds for Voiding an Agreement
Part III: Disputes, Fraud, and Illicit Schemes
Chapters 23 – 43.
Characterizing Investment Schemes
Characterizing Failed Agreements
Characterizing Informal Trading Agreements
Corporate and Vicarious Liability in Fraud
Contractual Failures in Mining Operations
Breach of Non-Compete and Employer Damages
Coercion and Robbery Using Crypto-Assets
Malicious Prosecution in Crypto Disputes
Malicious Prosecution in Mining Disputes
The Misidentified Defendant
Misleading Advertising in Hardware Sales
Ponzi Schemes and Illicit Contracts
The Perils of Unlicensed Investment Schemes
Tortious Liability for Embezzled Investments
Tortious Liability in Failed P2P Transactions
Unlicensed Intermediaries and Burden of Proof
Unlicensed Trading and the Doctrine of Illegality
Evidentiary Burdens for Unlicensed Managers
The Duty to Repay for Unlicensed VASP Activity
Valuation and Restitution in Investment Fraud
Voiding Unlicensed Investment Schemes
Part IV: Establishing Liability in Crypto-Asset Disputes
Chapters 44 – 59.
Agent’s Liability for Unauthorized Investment
Allegations of a Compromised Wallet
Apportioning Liability in a Scam
Bank Liability for Unauthorized Purchases
Delegated Trading and Diminished Responsibility
Fiduciary Duties and Sophisticated Investors
Separating Fraud from Laundering in Civil Claims
Joint Liability in Fraud
Joint Liability in Ventures
Jurisdictional Gatekeeping in Cross-Border Disputes
Liability for Undelivered Bitcoin
Liability for Misdirected Transfers
Piercing the Corporate Veil: Associated Companies
Piercing the Corporate Veil: Director and Agent
Piercing the Corporate Veil: The Manager
Vicarious Liability in Transactions
Part V: Enforcement, Remedies and Recovery
Chapters 60 – 75.
Enforcing Security Cheques
Enforcing Agency Obligations
Enforcing Informal Bitcoin Agreements
Enforcing Loan Agreements and Penalties
Enforcing Investment Agreements
The Enforceability of Written Agreements
The Effect of Criminal Convictions on Civil Claims
Tracing the Fulfilment of an Investment Mandate
Frozen Funds in Failed Property Deals
Liability for Delayed Platform Deposits
Liability for Assets on a Defunct Exchange
Recovering Funds Amidst Criminal Proceedings
Securing Fiat On-Ramps and Bank Liability
Specific Performance in Salary Disputes
Recovering Funds After a Criminal Acquittal
Tracing Liability Through Payment Processors
Part VI: Procedural and Evidentiary Challenges
Chapters 76 – 91.
Acquittal by Doubt and Malicious Prosecution
Jurisdictional Reach in Investment Disputes
Characterizing Transfers: Debt or Failed Mandate
Cheques as Payment: The Burden of Proof
Distinguishing Corporate from Personal Liability
The Evidentiary Value of Ownership Certificates
Evidentiary Hurdles in Investment Disputes
Evidentiary Hurdles in High-Value Investments
Proving Unwritten Agreements
The Preclusive Effect of a Criminal Acquittal
The Right to Report Fraud vs. Malicious Prosecution
The Uncorroborated Claim and Burden of Proof
The “Without Prejudice” Rule
Procedural Dismissal in Disputed Transfers
Procedural Dismissal in Fraud Claims
Res Judicata and the Decisive Oath
Part VII: Specialized Topics and Interplay with Criminal Law
Chapters 92 – 103.
Civil Restitution After a Criminal Conviction
From Criminal Conviction to Civil Claim
Characterizing Transfers: Gift, Loan, or Investment
Good Faith in Token Sales
Lease Payments in Cryptocurrency
Leveraging Criminal Judgments in Civil Claims
Liability for Trading Account Set-Up
Restitution for Crypto-Related Theft
Restitution for Undelivered Mining Hardware
The Criminal Threshold for Fraud
Liability for Authenticated Crypto Transactions
The Criminality of Unlicensed Investment Activity
BOOK AUTHOR
Mahmoud Abuwasel is the Disputes Partner at the global firm Wasel & Wasel and is practiced in international dispute resolution. He combines sophisticated courtroom advocacy with extensive experience in high-stakes cross-border litigation and arbitration. A Harvard graduate, Mr. Abuwasel holds a Juris Doctorate and multiple Master’s degrees. He is admitted as a solicitor in Australia (Supreme Court of Victoria), is a Qualified Arbitrator in Canada (ADR Institute of Canada), and is registered with the ADGM and DIFC Courts in the UAE.
The analysis presented in this volume is drawn directly from Mr. Abuwasel’s extensive experience as counsel in numerous landmark crypto-asset disputes. His pioneering work in this sector encompasses sophisticated advisory mandates and high-value litigation concerning the intellectual property rights associated with non-fungible token (NFT) assets, the structuring of play-to-earn (P2E) NFT projects, the complexities of revenue associated with NFT mint revenues, disputes arising from the sale of non-fungible token collections in high-frequency trading, and the novel integration of real-world NFT utility through wealth management frameworks.
Mr. Abuwasel’s contentious practice is at the forefront of crypto-related enforcement and recovery actions. This experience includes claims against unlicensed virtual asset service providers, against operators and directors for misrepresentation, prosecuting claims against directors exercising fraudulent control over corporate crypto-wallets, and litigating claims against investment promoters of investment misleading whitepapers.
Furthermore, he has extensive experience in disputes against major crypto-exchange platforms. These matters involve highly technical issues, including those related to market crashes and price drops, systemic issues arising from spot and futures trading, the behavior of leveraged tokens, the functionality and fairness of liquidation engines, and platform liability for system failures and malfunctions. His work in this specific area also addresses complex claims concerning compensation limits and realized and unrealized profit, disputes over API use and market data accuracy, and the adequacy and deployment of insurance funds. This frontline involvement provides him with an unparalleled understanding of the legal strategies essential for navigating this rapidly evolving jurisprudence.
Mr. Abuwasel is experienced in managing complex arbitration cases under major institutional rules (such as the ICC, LCIA, DIAC, HKIAC, and others). Furthermore, he acts in investor-state disputes, representing investors and sovereign governments in ad hoc, ICSID and UNCITRAL investment disputes.
His robust litigation practice spans multiple global jurisdictions as lead counsel, co-counsel, or instructing counsel including the UAE’s onshore, federal, DIFC, and ADGM courts, where he is routinely instructed by multinational corporations and high-net-worth individuals.
Additionally, Mr. Abuwasel serves as an expert on UAE law before international courts, including the Supreme Court of the State of New York and the High Court of Justice of England and Wales.
FOREWORD CONTRIBUTOR
His Excellency Justice Michael Black KC serves as a Judge of the Court of Appeal of the Dubai International Financial Centre (DIFC) Courts and is the Judge in Charge of the Digital Economy Court. In this pivotal capacity, he oversees one of the world’s most advanced judicial frameworks dedicated to the resolution of complex disputes arising from the digital economy, including those involving cryptocurrencies, blockchain technology, and smart contracts. His leadership has been defined by a pragmatic and forward-looking approach to digital asset jurisprudence, most notably through landmark judgments that have set global precedents by recognizing cryptocurrencies as a distinct third category of property capable of being owned, transferred, and protected under the law.
Justice Black’s authority in the technology sector is grounded in a distinguished career spanning nearly 45 years, including his tenure as a Deputy High Court Judge in the United Kingdom where he sat in the Technology and Construction Court (TCC) in London for over a decade. His extensive background as a King’s Counsel and international arbitrator has seen him adjudicate high-stakes commercial and financial disputes across the globe, from the Caribbean to the MENA region. This deep experience, combined with his instrumental role in drafting the original Rules of the DIFC Courts, uniquely positions him at the intersection of traditional common law rigour and the rapidly evolving exigencies of modern digital commerce.
In contributing the Foreword to UAE Crypto Litigation, Justice Black highlights the critical necessity of this work in bridging the “linguistic and doctrinal divides” of the UAE’s pluralistic legal system. He commends the book for its “methodical, evidence-based approach,” noting that it moves beyond theoretical commentary to excavate actual rulings and reveal the patterns in judicial reasoning that govern digital asset disputes. By endorsing the text as a seminal resource for judges, advocates, and scholars, he underscores its vital role in helping the legal community navigate the complex questions of proof, valuation, and enforceability that define this dynamic area of law.
Companion Podcast
Join the official companion podcast for a weekly deep dive and expert analysis of each chapter launching on 01 March 2026. The prelude episode is currently available.
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Publisher
Wasel & Wasel DC LLC
Cover Price
USD 428.00
ISBN
979-8-9936828-0-8
Library of Congress
Control Number 2026901283
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