Crypto Firms Announce New Products in Payments, Investments, Custody - A major U.S. digital asset management company recently announced the creation and public launch of its MakerDAO Trust, which “offers investors the...more
Key developments of interest over the last month include: the Bank of Italy’s communication on unauthorised payment transactions; the Reserve Bank of Australia’s announcement of an upcoming review into retail payments...more
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
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
MAS has published new requirements for DPT service providers and a consultation paper on additional regulations and prohibitions against unfair trading practices. On 3 July 2023, the Monetary Authority of Singapore...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
The Monetary Authority of Singapore (MAS) has issued new guidelines discouraging service providers of digital payment tokens (DPT), commonly known as cryptocurrencies, from promoting their services to the general public or...more
Two central banks have taken steps to facilitate cross border payments through the use of blockchain. On 1 May 2019, the Bank of Canada (BOC) and Monetary Authority of Singapore (MAS) jointly published a report on their...more
Initial Coin Offerings (ICOs) involve issuers offering virtual coins or tokens that are created and disseminated using distributed ledger or blockchain technology. The capital raised from the offer will fund the development...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