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ARTICLE · 23 NOVEMBER 2024

Australian superior court finds Bitcoin is property

Piper Alderman
Piper Alderman
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Justice Attiwill of the Supreme Court of Victoria has determined that a person's interest in Bitcoin is property.

AustraliaTechnology
Steven Pettigrove
Steven Pettigrove
Jake Huang
Jake Huang
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In an Australian legal first, Justice Attiwill of the Supreme Court of Victoria has determined that a person's interest in Bitcoin is property.

This case is ground-breaking, as it is the first superior court proceeding where an Australian court has found that a cryptocurrency possesses all characteristics of property. It brings Australia in line with other common law jurisdictions such as the UK, New Zealand, Hong Kong and Singapore in recognising cryptocurrency as property at common law.

In Re Blockchain Tech Pty Ltd [2024] VSC 690, the plaintiffs alleged that 36 Bitcoin (which are worth over AUD5 million based on market value current as at the date of this article) had been transferred to the first defendant on bailment and that Blockchain Tech was entitled to immediate possession of the same.

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