From www.cglaw.com.au: Recent legal developments in Australia have confirmed that cryptocurrency is classified as personal property, specifically a chose in action, according to the Supreme Court of Victoria in the case of Re Blockchain Tech Pty Ltd.

This recognition grants cryptocurrency owners specific rights, including the ability to transfer ownership and initiate legal action against third parties.

As cryptocurrency trading grows, its inclusion in trusts, estate planning, and bankruptcy proceedings highlights the importance of understanding its legal status.