The Attorney General applied for restraint and management orders under the Criminal Code for cryptocurrency held by Binance, alleged to be offence-related property from a fraud.
Binance opposed the application on jurisdictional grounds, arguing that the Unifund test for prescriptive legislative jurisdiction applied and required assessing the reliability of the cryptocurrency tracing.
The court held that the Unifund test does not apply because the legislation explicitly authorizes extraterritorial reach and the orders involve enforcement rather than prescriptive jurisdiction.
Instead, the Brecknell test applies.
Consequently, the reliability of the cryptocurrency tracing was deemed irrelevant to the jurisdictional issue.
