The Singapore High Court has classified cryptocurrency as property in the Bybit case

ChainCatcher news, a ruling from the Singapore High Court shows that the court has recognized cryptocurrency as property in a case involving Bybit. It is reported that Bybit previously sued Ho Kai Xin in Singapore court for breaching her employment contract and abusing her authority, transferring over 4.2 million USDT to an address she owns and controls, and transferring a certain amount of fiat currency into her own bank account.

The presiding judge, Philip Jeyaretnam, stated that USDT can be held in trust, and the holders of crypto assets generally possess intangible property rights recognized by common law, thus allowing for enforcement in court.