ponhurp-Singapore High Court rules crypto personal property, compares it to fiat money
Position added successfully to:+ Add another positionClose
Cryptocurrency is property capable of being held in trust, Judge Philip Jeyaretnam of the High Court of Singapore ruled on July 25. The judge said he didn’t see any difference between crypto, fiat money or shells as long as all those objects, physical or not, share value created by mutual faith in them.
Jeyaretnam handed down his ruling in a case brought by Bybit against its former employee, Ho Kai Xin. Bybit claimed the staff member transferred around 4.2 million of Tether (USDT) from the crypto exchange to her private accounts. The court has now ordered Ho, who has accused a non-present cousin of controlling the relevant accounts, to return the money to Bybit.
Continue Reading on Coin Telegraph