Singapore court rejects Algorand’s application to liquidate Th | LockMeta: Latest Crypto News

Singapore court rejects Algorand’s application to liquidate Three Arrows Capital for not recognizing cryptocurrencies as currencies

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In the case where the Algorand Foundation sought to liquidate Three Arrows Capital’s Singapore entity and claimed 53.5 million USDC, the Singapore High Court ruled that cryptocurrencies were not recognized as money and ultimately rejected Algorand’s liquidation application.

In his ruling, the judge stated: “In my opinion, the term liability must refer to a…

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