The Singapore International Commercial Court recently handed down judgment in B2C2 Ltd v Quoine Pte Ltd  SHGC(I) 03 following the first Bitcoin trial to take place in Singapore. The case concerned a series of orders placed by the Claimant on the Defendant’s cryptocurrency exchange platform to sell Ethereum for Bitcoin. These orders were subsequently reversed by the Defendant who alleged, amongst other things, that it was right to reverse the trades because they had been entered into by mistake and were therefore void.
The judgment addresses a number of novel points, including whether cryptocurrencies are property and how to ascertain a party’s knowledge where the relevant operations are carried out by a computer program. Lawrence Akka QC has authored an article discussing these points.
Sam Goodman was instructed to advise the successful Claimants.