Found an interesting article today coming from Spain, it says that someone contracted a debt with another private party, it was a simple two-guy debt setting without a legal agreement other than Whatsapp messages. "I need X amount of money, I will pay you back". The creditor accepted and so sent 0.58 BTC to this guy which eventually refused to pay back. What's interesting is that for the first time ever the judge said the debt plus interest must be paid back in Bitcoin, not the fiat currency (EUR in Spain). Due counterparty risk, he will have to pay more since by the time the agreement happened the price of Bitcoin was cheaper, specifically, 14.000€ at current rate, 5.900€ back then.
Not surprising because the debt is in Bitcoin and not in Euro. Judge usually want to settle what’s the original debt. It’s like a debt in USD should be paid on USD not in Euro. The judge doesn’t consider the converted value because it’s a debt and not an investment.
I will be surprised if the judge will settle this in Euro despite the debt is on Bitcoin. The good news on this article was judge already considering Bitcoin as valuable asset since they are honoring its value.