The Singapore High Court does not recognize cryptocurrency as currency and rejects the Algorand Foundation's application to liquidate Three Arrows Capital

ChainCatcher news, in the case where the Algorand Foundation sued Three Arrows Capital, the Singapore High Court ruled not to recognize cryptocurrency as currency, thus dismissing the liquidation application. The judge stated in the ruling: whether cryptocurrency falls under the category of currency requires detailed evidence examination, but is not applicable in the context of bankruptcy liquidation. It is reported that the Algorand Foundation is claiming 53.5 million USDC from Three Arrows Capital. (source link)