The SGHC supports the enforcement of arbitration agreements by granting anti-suit injunction in a cryptocurrency dispute
Arbitration analysis: In the recent case of TrueCoin LLC v Techteryx, Ltd [2024] SGHC 296, the Singapore High Court (SGHC) granted a stablecoin developer an anti-suit injunction (ASI) to restrain Hong Kong court proceedings in favour of Singapore-seated arbitration. This is the first case of an ASI being granted by the Singapore courts in a dispute concerning cryptocurrencies. It underlines the court’s application of established principles to enforce arbitration agreements including in the nascent area of cryptocurrency disputes. Clara Tung, managing associate at Linklaters LLP, considers the implications of the decision.