Regional Round-up
Issue 1 of 2023

SINGAPORE

How Courts are Dealing with Crypto Disputes – Recent Developments in Crypto Asset Litigation across Jurisdictions

The crypto market has been through a tumultuous year, leading to an uptick in crypto litigation. Here, we explore the notable crypto litigation developments in the past year.

Jurisdictional gateways

Victims seeking their local courts’ assistance must first demonstrate a good arguable case for invoking the court’s jurisdiction over foreign parties.

1. In the UK, the recent decision of Osbourne v Persons Unknown [2023] EWHC 39 (“Osbourne“) has cast doubt on the previously accepted position that jurisdiction follows the location of intangible crypto asset.
2. The Singapore courts have typically assumed jurisdiction on other bases, such as the defendants carrying on business or having assets in Singapore (CLM v CLN [2022] SGHC 46, Janesh s/o Rajkumar v Unknown Person [2022] SGHC 264).