Crypto Co. Says Fintech Co. Couldn't Live Up To Promise

Law360, London (March 9, 2020, 6:09 PM GMT) -- An Iceland-based cryptocurrency company has said a U.K. digital payments contractor was never actually capable of delivering on a banking software system, rejecting the company's defense against a £3 million ($3.88 million) counterclaim over the canceled project. 

Genesis Mining Iceland EHF denied the suggestion that London-based Digital Capital Ltd. was able to provide anything other than "peripheral functionality" for the software system it had been contracted to build, which was originally expected to launch by June 2018. 

Genesis launched a counterclaim against Digital Capital late last year to try to recover the money it had already paid to the U.K. contractor, over the...

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