Speaking generally, she said “data security and data protection are fields that continually evolve as new technologies emerge.”
While Atwal’s case focuses on cryptocurrencies, Clark noted that data protection involves a wide-range of new technologies such as “surveillance technologies, peer-to-peer financial technologies, social media and much, much more,” said Clark, a partner at Phillips Lytle.
Was theft a stolen identity event?
NortonLifeLock, in court papers, said Atwal’s policy covered U.S. regulated checking, savings, money market, brokerage and credit card accounts held by a financial institution and established primarily for personal, family or household purposes. It defines a financial institution as a bank, savings association, credit union, credit institution or company using credit.
Cryptocurrency is not subject to control or oversight by any governmental agency, NortonLifeLock’s lawyers said in court papers.
“Cryptocurrencies are not legal tender … are not accepted as currency by the government, and are not accepted as payment by the overwhelming majority of private business and individuals,” according to the company’s court papers. “Importantly, virtual currency does not have legal tender status in any jurisdiction.”