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Crypto Assets are Property, Specifically, Choses in Action, that are Capable of Being Held on Trust – ByBit Fintech Ltd v Ho Kai Xin [2023] SGHC 199 [case comment]

Ben Chester Cheong & Kunhe Lin

[2024] SAL Prac 2

This article examines the decision of ByBit Fintech Ltd v Ho Kai Xin [2023] SGHC 199 where a summary judgment was obtained against the defendant for a breach of her employment contract and abuse of her position to unjustly enrich herself. This decision is the first time a common law court has declared that cryptocurrency is property capable of being held on trust, and its nature is that of a chose in action. This article also examines potential implications that may arise from this decision.