Crypto hearings in Singapore throw up quirks, legal novelties

More sticking points around this novel technology are expected to surface

Claudia Chong

Published Mon, Apr 10, 2023 · 05:50 AM

SHOULD crypto be recognised as money under Singapore law? If it is, does it mean that any obscure form of currency – even seashells – would have to be recognised?

These are some of the tricky and unorthodox questions that have surfaced in Singapore courts in recent months. As court proceedings involving troubled crypto companies intensify, legal experts have had to navigate unchartered territory.

In a High Court hearing on Mar 30, the question of whether crypto is money sparked a colourful exchange between the judge and the lawyer representing a blockchain company called the Algorand Foundation.

Algorand was seeking to wind up the Singapor…