Breaking: Singapore Court Rules Crypto As Property In ByBit Judgement
Crypto Judgment From Case Involving ByBit In a case brought by ByBit against its former employee, Ho Kai Xin , Judge Jeyaretnam rendered his decision. According to ByBit, the employee transferred almost 4.2 million USDT from the cryptocurrency exchange to her personal accounts. Ho has been claiming that a distant cousin is in charge of the pertinent accounts, and the court has now ordered him to refund all of the money to ByBit. advertisement Even if the choice may appear clear, it contains key formulations that are crucial for the legal standing of digital assets. The stolen USDT and all cryptocurrencies are considered property by Judge Jeyaretnam. He said, “The physical manifestation at the level of digital bits and bytes is not permanent, and changes with every transaction. Nonetheless, we identify what is going on as a particular digital token, somewhat like how we give a name to a river even though the water contained within its banks is constantly c...