AI Protocols Merge, VC Crypto Funding Increases, Tether Completes SOC 2 Audit - According to a recent press release, “SingularityNET (SNET), the world’s first decentralized Artificial Intelligence (AI) network, Fetch.ai, a...more
Following four rounds of public consultation, the Monetary Authority of Singapore (MAS) formally launched the Singapore-Asia Taxonomy (the Taxonomy) at COP28 on 3 December 2023. The Taxonomy is not designed to be an...more
District Court Upholds Tornado Cash Sanctions, DOJ Charges Founders - On August 17, a Texas federal court found that Tornado Cash, a crypto mixer (which obscures the source of crypto transactions) is an entity that can be...more
As ESG regulation in Asia develops at an increasing pace, Latham lawyers give an update on noteworthy developments across the region....more
The Singapore High Court recently rejected Algorand Foundation’s application to liquidate Three Arrows Capital based on a claim of 53.5 million USD Coin (USDC)—a form of cryptocurrency also known as a stablecoin, designed to...more
Singapore has become a popular destination for new and existing cryptocurrency funds, just in time for the perceived oncoming “crypto winter.” This LawFlash spotlights trends and legal issues that companies should be aware of...more
UK and Singapore Financial Partnership on financial services HM Treasury has announced that it has agreed a new "Financial Partnership" between the UK and Singapore which will support increased financial services between the...more
The Monetary Authority of Singapore (MAS) has issued three new consultations each dealing with different aspects of the regulation of digital payment tokens (DPTs) under the Payment Services Act (PSA). It has also recently...more
Cyber attacks are a national security concern in the UK. While individuals can be victims of such attacks, private sector institutions are often the direct targets. Cyber attacks can critically damage a commercial reputation...more
The Monetary Authority of Singapore (MAS) recently stopped an initial coin offering (ICO) from proceeding in Singapore on grounds that the issuer failed to comply with the non-advertisement condition associated with the...more
Week of October 15-19, 2018 - SEC Launches FinHub to Facilitate Public Engagement on FinTech Issues - On October 18, the SEC launched FinHub, a new “Strategic Hub for Innovation and Financial Technology.” The SEC...more
Recently, JPMorgan Chase CEO Jamie Dimon warned that the “biggest vulnerability” for the financial system is the threat of cyber attacks. Hackers, especially those working for nation-states, have grown more sophisticated and...more
As interest continues to grow in virtual currencies, blockchain technology and initial coin offerings, governments are evaluating the benefits and potential risks of these innovations, while considering numerous regulatory...more
Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more
The Monetary Authority of Singapore has proposed a simplification of the authorisation process and regulatory framework for venture capital managers—with the goal of supporting start-ups....more
On 24 May 2016, the Monetary Authority of Singapore (MAS) announced that it had served on BSI Bank Limited (BSI) a notice of intention to withdraw its status as a merchant bank in Singapore and will impose financial penalties...more