Our Associate Stuart Peter looks back on some of the key lessons we can learn from the events of 2022 in Tech, Crypto and Digital Assets. 

What laws in Singapore cover popular digital payment systems like GrabPay or ShopeePay? What about crypto exchanges or wallets?

Our Director Ronald JJ Wong examines the Fintech Laws and Regulations in Singapore in 2022.

There’s a huge rise in digital scams and fraud including cryptocurrency-related schemes.

If victims have reported the matter to the police, the police may investigate and seize assets relating to the crime. Such assets would include virtual assets such as digital tokens, non-fungible tokens (NFTs) and cryptocurrency. 

Cryptocurrencies, digital payment tokens, security tokens, Non-Fungible Tokens (“NFTs”), blockchain technology, virtual land, metaverse – these “buzz words” have become commonplace in our world today – whether in the news or in our social circles.

With such vast amounts of money being pumped into the digital asset landscape, it is no wonder why more people are considering investments in digital assets. This however makes the question of the legal implications and intricacies regarding digital asset ownership all the more important to examine.

Director Ronald JJ Wong’s recommendation for cryptocurrency exchanges and digital asset wallet providers to consider implementing a mechanism for customers to freeze their accounts to foster trust and facilitate wider user adoption was featured in The Business Times.

Digital assets are an often-overlooked class of assets that most people do not specifically provide for in their Wills. Given that the number of people who own some form of digital assets has risen considerably over the last few years, it would be wise to consider the question of how digital assets can be specifically provided for in a Will and practically managed for leaving behind as an inheritance.

Artificial Intelligence (“AI”) systems, automated decision-making, and autonomous vehicles are become increasingly ubiquitous. While these can benefit society, there can be significant risks of harms and unfair outcomes from their use.