The judge didnt see any difference between crypto, fiat money or shells as long as all those objects, physical or not, share value created by mutual faith in them. 810 Total views 6 Total shares Listen to article 0:00 News Join us on social networksCryptocurrency is property capable of being held in trust, Judge Philip Jeyaretnam of the High Court of Singapore ruled on July 25. The judge said he didnt see any difference between crypto, fiat money or shells as long as all those objects, physical or not, share value created by mutual faith in them.
Jeyaretnam handed down his rulingin a case brought byBybit against its former employee, Ho Kai Xin. Bybit claimed the staff member transferred around 4.2 million of Tether (USDT) from the crypto exchange to her private accounts. The court has now ordered Ho, who has accused a non-present cousin of controlling the relevant accounts, to return the money to Bybit.
While the decision may seem obvious, it contains some formulations important for the juridical status of digital assets. Jeyaretnam calls the stolen USDT, as well as cryptocurrencies in general, property. Even though they dont have any physical presence, the judge said:We identify what is going on as a particular digital token, somewhat like how we give a name to a river even though the water contained within its banks is constantly changing.
He rebukes the common suspicion of crypto not having any real value, reminding that value is a judgment made by an aggregate of human minds. Jeyaretnam also classifies crypto in the category of things in action. In British common law, that means a type of property over which personal rights could be claimed or enforced by legal action, not by taking physical possession.
Related: Singapore to require crypto firms to put user assets into trusts by year-end
In his decision, the judge cited the consultation paper by the Monetary Authority of Singapore (MAS) that will implement segregation and custody requirements for digital payment tokens. If it is possible in practice to identify and segregate such digital assets, it should be legally possible to hold them on trust, the judge stated.
The decision mentions Order 22 of Singapores Rules of Court 2021, which defines movable property to include cash, debt, deposits of money, bonds, shares or other securities, membership in clubs or societies, and cryptocurrency or other digital currency.
In May 2022, the High Court of Justice in London ruled that nonfungible tokens (NFT) represent private property. Experts called the decision a great precedent for people investing in NFTs who hoped that British courts would protect their property rights.
Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.
Magazine: Experts want to give AI human souls so they dont kill us all# Singapore # Adoption # Court # Tether # Regulation
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The McDermitt Caldera is an extinct supervolcano on the Oregon-Nevada border that, depending on who you believe, is loaded with enough lithium to power 600 million electric cars. It begs the question: who will control the $1.5 trillion dollar mineral deposit?
Fig. 1. Map showing type and relative size of global lithium resources. Current production is predominantly spodumene from pegmatites in Australia (47%) and brines underlying salt flats in Chile (30%), China (12%), and Argentina (5%); via Science.org.
Recent calculations by Castor and Henry estimate an in situ tonnage of ~20 to 40 MT of Li (maximum 120 MT of Li) to be contained within sediments of the whole McDermitt caldera … even if this estimation is high due to variations in sediment thickness and/or Li grade, the Li inventory contained in McDermitt caldera sediments would still be on par with, if not considerably larger than, the 10.2 MT of Li inventory estimated to be contained in brines beneath the Salar de Uyuni in Bolivia, previously considered the largest Li deposit on Earth.
Spanish-language site Motorpasión reports that the McDermitt Caldera deposit packs enough lithium to produce a staggering 600 million electric cars, and could make the US (with the right policies in place) a global leader in the li-ion battery supply chain. So, of course, America’s biggest EV oligarchs are going to fight over it.
High stakes
Pickup trucks are big business in the US and, frankly, everywhere else — and both Musk and Bezos are hoping to get into that business in a big way, through the Tesla CEO’s Cybertruck, its (supposedly) less polarizing successor, and the upcoming low-cost Slate backed by the Amazon founder. And that doesn’t include GM (who have been arguing over the rights to the caldera for years already), Ford, Rivian (where Bezos, through Amazon, holds more than 13% of the shareholders’ vote), and others.
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For both of them, controlling the caldera means more than money. It means securing control of one of the most strategic mineral sectors of this century. And, in late 2024 with the Trump-Musk bromance in full bloom, Musk publicly pushed mining operations to produce more nickel for EVs, invested in a massive lithium refinery in Texas, and promised even more EV production, making it look like Musk, through his political influence, might soon be granted control of the world’s largest lithium deposit.
“Elon’s always been there, now the megaphone is bigger,” one lithium producer, who was granted anonymity to speak freely, told Politico. “This is a pretty small space, so he’s always had a lot of truck.”
Then in June, the Trump-Musk bromance collapsed in dramatic fashion, with Musk launching a now-deleted tweet on X accusing the President of being “in the Epstein files,” launching a political controversy that is still gnawing at Trump.
And, if there’s one thing guys like Jeff Bezos do well, it’s capitalize on an opportunity … and I wouldn’t expect him to happily send all that lithium he’s mining to Elon’s refinery, either.
What do you guys think? Are we headed for an epic showdown on the Oregon-Nevada border? If we are, who do you think would win? Let us know, in the comments.
Original content from Electrek.
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Mercedes-Benz is quietly suspending orders on some of its most popular EV models in the US. The German luxury automaker has already halted the order bank for the electric EQS and EQE, both the sedan and SUV models.
Why is Mercedes pausing EV orders in the US?
Like most of the automotive industry, Mercedes is preparing for significant changes under the Trump Administration.
According to a new report from Automotive News, Mercedes has already paused orders for several EV models in the US, at least for the time being.
The order book for the electric EQS sedan, EQS SUV, EQE Sedan, and EQE SUV is now closed for dealers. Mercedes blamed the “current market conditions” for the decision.
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Starting September 1, Mercedes will halt production of the EQS and EQE SUV models at its Vance, Alabama, plant for the US. However, it plans to continue building the electric vehicles at the facility to export to overseas markets.
Although dealers can’t order any more EQS or EQE models in the US, you can still find some for sale. Mercedes slashed prices by up to $15,000 on its remaining EV models earlier this month.
Mercedes-Benz EQS SUV production in Alabama (Source: Mercedes-Benz)
A Mercedes spokesperson told Kelley Blue Book last week that the EQB “has reached the end of its lifecycle as planned and therefore will not be offered in the US or Canada after model year 2025.”
Although it cited current market conditions, the changes come as the federal EV tax credit in the US is set to expire at the end of September.
Mercedes CLA EV AMG Line Plus (Source: Mercedes-Benz)
Meanwhile, Mercedes is gearing up for “the largest product offensive” in company history. The new 2026 CLA EV is launching this fall, followed by two electric SUVs based on the same MMA platform. Mercedes will also unveil the electric version of its best-selling SUV, the GLC EV, in a little over a month at the Munich Motor Show.
Looking to score the savings while they are still available? You can use our links below to find offers on Mercedes EV models in your area.
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Japan is proposing a major reform in its tax regime for crypto assets. If passed, these changes will make digital asset investing simpler for crypto investors.