🧵 1/4: Singapore High Court recognizes digital assets as property, subject to existing laws. Judge emphasizes their equivalence in value to fiat currencies. #business
🧵 1/4: Singapore High Court recognizes digital assets as property, subject to existing laws. Judge emphasizes their equivalence in value to fiat currencies. #business
🧵 2/4: Landmark ruling came in a case involving Bybit and an ex-employee who illegally transferred 4 million USDT. Bybit sought return and trust holding declaration.
🧵 3/4: Judge states digital currencies constitute property eligible for trust holding, refuting argument of lacking real value. Analogizes value to "aggregate of human minds."
🧵 4/4: Court grants Bybit summary judgment and orders payment of $45,000 in legal fees. Despite China's ban, their court previously ruled digital assets as property.
🧵 Read more at: https://coingeek.com/singapore-high-court-deems-digital-assets-as-trustable-property/