New York Judge Stays Lawsuit Seeking Ownership of Nearly 40,000 Bitcoins

BlockBeats News, June 8th - A judge in the New York Supreme Court has temporarily halted all proceedings in a lawsuit. The lawsuit sought to assert ownership of 39,069 dormant Bitcoin wallets to prevent any default judgment from moving forward before a hearing on July 14th. Judge Kathy J. King has signed the "Order to Show Cause," which was publicly docketed on June 5th.

According to court records, oral arguments are scheduled for July 14th at 10:30 a.m. in the 6th Judicial District of the New York Court. The order specifies that, pending the hearing, "all further proceedings on plaintiff's declaratory judgment request in this matter [are] stayed, including any application for discovery or default judgment."

The judge omitted the phrase "and for a final determination" from the standard template wording, therefore framing the order as a suspension of the case until the July 14th hearing rather than an ongoing stay pending a subsequent final judgment. In another ruling submitted on the same day, Kathy J. King found a prior motion for injunctive relief moot and referenced a "Revised Complaint" filed by the plaintiff on May 1st, as well as another entry in the docket.