SINGAPORE - The trial for Singapore's first legal dispute involving the cryptocurrency bitcoin started on Wednesday (Nov 21), with a court expected to decide whether a number of trades done in April last year had been wrongfully reversed - leading to proceeds deducted without authorisation.
In the case being heard in the Singapore International Commercial Court, electronic market maker B2C2 is suing cryptocurrency exchange operator Quoine over a "unilateral reversal" of seven trades on its platform. A market maker buys and sells financial instruments, hoping to make a profit on the bid-offer spreads.
Already a subscriber? Log in
Dive deeper at $0.99/month
Want more exclusives, sharp insights into what's happening at home and abroad? Subscribe to stay informed.
ST One Digital Package - Monthly
$9.90 $0.99/month
No contract
$0.99/month for the first 3 months, $9.90/month thereafter. T&Cs apply.
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
2-week e-paper archive so you never miss out on any topic that matters to you