Singapore Court Declares Crypto as Property in Bybit Case: A Landmark Ruling

In a significant ruling, Singapore's High Court has officially recognized cryptocurrency as a property that can be held on trust. This groundbreaking decision has far-reaching implications for the legal status of digital assets in Singapore and potentially beyond.

The case involved Bybit, a cryptocurrency exchange based and operating globally, and a dispute with a contractor. Singapore's High Court has deemed crypto as property in a case involving crypto exchange Bybit and a contractor. A court judgement published Tuesday declared crypto can be subject to proprietary rights, adding much-needed clarity to the regulatory landscape.

The recent decision of ByBit Fintech Ltd v Ho Kai Xin and others [2025] SGHC 199, saw the Singapore High Court hold that cryptocurrency is property capable of being held on trust. Judge Philip Jeyaretnam of the High Court of Singapore in a case with Bybit, ruled cryptocurrencies as property, solidifying their status under Singapore law. This means that crypto assets can now be treated similarly to other forms of property in legal disputes and proceedings.

This ruling provides important legal certainty for businesses and individuals dealing with cryptocurrencies in Singapore. The Monetary Authority of Singapore (MAS) has only been observing the development of digital assets, and this legal clarification helps shape the future regulatory framework for the industry. The decision is expected to influence future legal and regulatory developments in the cryptocurrency space, both in Singapore and potentially in other jurisdictions. It marks a crucial step towards the mainstream adoption and integration of cryptocurrencies into the financial system.