- Singapore Hight Court issued to freeze the sale and ownership transfer of a BAYC NFT.
- The law recognizes both fungible and non-fungible tokens as a form of property.
- The case has a positive outcome for the NFT industry according to an expert.
Singapore High Court has granted a proprietary injunction to freeze the sale and ownership transfer of a Bored Ape Yacht Club (BAYC) NFT on behalf of a Singaporean investor against an unknown defendant.
A court in Singapore has issued a freezing injunction preventing the sale of a Bored Ape NFT, in one of the first cases of its kind that could have broad ramifications for digital assets https://t.co/P2iUNDjxLg
— Bloomberg Crypto (@crypto) May 20, 2022