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Month: June 2020

Libra: Highlighting Regulatory Challenges for the Future of Cryptocurrencies

Reading time: 14 minutes

Written by Jaye Tan (Associate Author) | Mentored by Ong Chin Ngee | Reviewed by Ian Lee

LawTech.Asia is proud to conclude the second run of its Associate Author (Winter 2019) Programme. The aim of the Associate Authorship Programme is to develop the knowledge and exposure of student writers in the domains of law and technology, while providing them with mentorship from LawTech.Asia’s writers and tailored guidance from a well-respected industry mentor.

As part of a partnership with the National University of Singapore’s alt+law and Singapore Management University’s Legal Innovation and Technology Club, five students were selected as Associate Authors. This piece by Jaye Tan, reviewed by industry reviewer Ian Lee (Lead Investigator, Merkle Science), marks the second thought piece in this series, and examines the regulatory challenges of cryptocurrencies.

Abstract

In June 2019, Facebook announced that they were launching their own cryptocurrency Libra Coin under the Libra Association. Already facing governmental scrutiny over privacy issues over the social network, the announcement exacerbated intense attention from not only United States lawmakers and politicians, but the general public. On 23 October 2019, Mark Zuckerberg was subject to over six hours of questioning – elucidating the key concerns lawmakers have with regard to the regulation of cryptocurrencies. These regulatory challenges are not unique to the US, but apply worldwide to regulatory authorities dealing with the budding technology. With the legislation of the Payment Services Act, Singapore has set a regulatory framework which may be the leading framework for countries to adopt going forward.

TechLaw.Fest 2019 – Charting the Course of Disruption in Law and Technology

Reading time: 9 minutes

By Lenon Ong, Sanjana Ayagari, Elizaveta Shesterneva | Edited by Josh Lee

As part of our strategic media partnership with the Singapore Academy of Law, LawTech.Asia once again has the privilege of being appointed as media partner for TechLaw.Fest 2020. As the programme line-up for TechLaw.Fest 2020 begins to take shape, LawTech.Asia brings our readers back to TechLaw.Fest 2019 to provide a timely recap on all that happened, as we look forward to what is shaping up to be a momentous and memorable TechLaw.Fest 2020.

In its second year in this form as a large-scale conference, TechLaw.Fest 2019 was held on 5 and 6 September 2019, and saw over 1,500 legal professionals, technologists, entrepreneurs and regulators converge to engage in critical conversations about the future of technology law and of the legal industry. 

Given the numerous conferences, exhibitions, pitches, launches and meetings all happening over 48 hours of adrenaline and excitement, this article aims to share some of the key themes and memorable moments that emerged across both days of Singapore’s (and arguably Asia’s) signature law and technology conference.

The entrance to TechLaw.Fest, just before the start of an adrenaline-fuelled two days.

Conferencing Through COVID-19

Reading time: 10 minutes

Written by Jennifer Lim and Irene Ng | Edited by Josh Lee

Authors’ Note: This article is a follow-up to LawTech.Asia’s earlier article on remote working, which can be found here.

Introduction

The recent global pandemic centering around Covid-19 has foisted large-scale digitalisation upon the legal industry. It has pressed firms, courts and clients to adopt remote working, practically forcing all lawyers to virtually turn “in-house” (pardon the pun) overnight as law firms react to government regulations by implementing “work-from-home” measures. 

The legal industry should not shy away from embracing technology, and should in fact use this as an opportunity to rethink its models for operating and delivering services.. In this regard, the Singapore Courts have taken digital transformation in their stride, enabling hearings, pre-trial conferences, and even commissioning to be conducted via video-conferencing. Courts in the region, such as Malaysia and Australia, have also adopted similar modes of digital transformation and formulated their own Standard Operating Procedures and handbooks.

As a follow-up to LawTech.Asia’s earlier article on remote working (which focused on business continuity plans for law firms in general), this article seeks to focus on introducing practical strategies to optimise one’s use of  video-conferencing tools. This article first examines strategies for optimising our workflow in the context of video-conferencing, before doing a comparison of certain common technologies.

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