Singapore's High Court has deemed crypto as property in a case involving crypto exchange Bybit and a contractor.
Judge Philip Jeyaretnam also ruled crypto assets were things in action; an intangible property type, like a cash balance at a bank or money due on a bond. Specific to the case, the court determined
Jeyaretnam concluded that crypto assets were a thing in action, capable of being enforced in court."The holder of a crypto asset has in principle an incorporeal right of property recognizable by the common law as a thing in action and so enforceable in court," he added.and contractor Ho Kai Xin. Bybit brought a case against Ho in October 2023, claiming that she breached her employment contract to transfer over 4.2 million USDT to addresses owned and controlled by her.
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