Cryptocurrencies and Code Before the Courts

7 Pages Posted: 22 Aug 2019

See all articles by Vincent Ooi

Vincent Ooi

Singapore Management University - School of Law; Singapore Management University - Centre for AI & Data Governance

Kian Peng Soh

Singapore Management University

Date Written: July 1, 2019

Abstract

In the rapidly developing cyber sphere dominated by cryptocurrencies and code, it is perhaps not uncommon for firms to focus on cutting-edge technological developments leaving the law behind as an afterthought. B2C2 Ltd v Quoine Pte Ltd (“B2C2”) may serve as a timely reminder of the importance of the legal principles supporting e-commerce and Fintech. In the first case of its kind, B2C2 raised several key questions before the Singapore International Commercial Court (“SICC”), seeking clarification on how the established legal concepts of breach of trust, mistake and unjust enrichment might apply in the context where an automated contract-forming software had produced unusual results. This decision represents the most comprehensive treatment by a Commonwealth court of the legal nature of cryptocurrencies and automated contract-forming software to date; a harbinger of further and more complex litigation to come, as disputes involving e-commerce and Fintech gradually start to reach the courts.

Keywords: Contract Law, Artificial Intelligence, Cryptocurrencies, Fintech

Suggested Citation

Ooi, Vincent and Soh, Kian Peng, Cryptocurrencies and Code Before the Courts (July 1, 2019). Available at SSRN: https://ssrn.com/abstract=3439306 or http://dx.doi.org/10.2139/ssrn.3439306

Vincent Ooi (Contact Author)

Singapore Management University - School of Law ( email )

55 Armenian Street
Singapore, 179943
Singapore

HOME PAGE: http://law.smu.edu.sg/faculty/profile/156436/Vincent-OOI

Singapore Management University - Centre for AI & Data Governance ( email )

55 Armenian Street
Singapore
Singapore

Kian Peng Soh

Singapore Management University ( email )

Li Ka Shing Library
70 Stamford Road
Singapore 178901, 178899
Singapore

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