Bits & Bytes: Singapore courts’ crypto-friendly approach shown in new ruling that cryptocurrency can be property

18 December 2023

Allen & Gledhill Partners Adrian Ang, Alexander Yap and Alexander Lawrence Yeo contributed an article titled “Singapore courts’ crypto-friendly approach shown in new ruling that cryptocurrency can be property” to Bits & Bytes, a monthly online bulletin hosted on the website of the Centre for Technology, Robotics, Artificial Intelligence and the Law (TRAIL) at the Faculty of Law, National University of Singapore.

The article provides a short analysis of ByBit Fintech Ltd v Ho Kai Xin & Ors [2023] SGHC 199, where the General Division of the Singapore High Court considered whether the cryptocurrency stablecoin known as “Tether” constitutes property that is capable of being held on trust. The article also provides a brief overview of the broader “crypto-friendly” trend in Singapore court decisions.