Singapore's High Court has ruled that cryptocurrency can be held on trust, according to a judgement published on Tuesday. The case involved Seychelles-based exchange Bybit and a contractor who transferred over 4.2 million USDT to addresses owned and controlled by her. The judge acknowledged that crypto assets have an incorporeal right of property, which is enforceable in court. Bybit sought a declaration that the contractor was holding both the USDT and fiat currency on trust for the exchange, and the judge ordered her to transfer the assets back.