With the onset of major distress in the cryptocurrency market in 2022, referred to as the crypto winter, crypto and digital asset exchanges and yield-earning platforms (collectively, crypto platforms) have appeared as debtors in US bankruptcy proceedings under Chapter 11 and Chapter 15 of the Bankruptcy Code. Distress in the crypto market is likely to lead to more crypto bankruptcies following these initial filings.

This Toolkit contains links to continuously maintained Practice Note Overviews, Practice Notes, and Standard Documents addressing issues that may arise in crypto bankruptcy proceedings, including how crypto platforms generally function and how customers of crypto platforms may be treated in bankruptcy. This Toolkit also includes case trackers featuring recent case filings and regulatory developments and Articles addressing current developments.

For a toolkit of Practical Law resources addressing cryptocurrency and digital assets more generally, see Crypto Toolkit.