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The Singapore Excessive Court docket has dominated {that a} claimant’s residency is enough to determine jurisdiction.
In a landmark choice which might have implications for litigation all over the world, the Singapore Excessive Court docket has affirmed its personal jurisdiction over a dispute involving a non-fungible token (NFT), even if the blockchain networks which host NFTs are borderless and exist exterior conventional nationwide jurisdictions.
Ought to different jurisdictions comply with swimsuit, one of many extra engaging parts of blockchain – that it sits exterior the remit of nationwide regulators and different our bodies – might be eradicated as laws lastly catches up with know-how. Then again, buyers who could have been deterred previously owing to the issue of initiating a dispute could now be inspired by the transfer in the direction of accountability.
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