Asia's Leading Law & Technology Review

Month: August 2022

How are Non-Fungible Tokens Stolen?

Reading time: 13 minutes

Written by Marilyn Sim | Edited by Josh Lee

We’re all law and tech scholars now, says every law and tech sceptic. That is only half-right. Law and technology is about law, but it is also about technology. This is not obvious in many so-called law and technology pieces which tend to focus exclusively on the law. No doubt this draws on what Judge Easterbrook famously said about three decades ago, to paraphrase: “lawyers will never fully understand tech so we might as well not try”.

In open defiance of this narrative, LawTech.Asia is proud to announce a collaboration with the Singapore Management University Yong Pung How School of Law’s LAW4032 Law and Technology class. This collaborative special series is a collection featuring selected essays from students of the class. Ranging across a broad range of technology law and policy topics, the collaboration is aimed at encouraging law students to think about where the law is and what it should be vis-a-vis technology.

This piece, written by Marilyn Sim, seeks to discuss a question that has as of late not yet been dealt with in most jurisdictions – how are Non-Fungible Tokens (“NFTs”) stolen? More specifically, what does it mean for an NFT to be stolen in fact, and if it can indeed be stolen, what are the chances of an individual reclaiming his or her NFT? This paper surveys available material and comes to the finding that NFTs can be stolen in direct and indirect ways.

Criminalising Offensive Speech Made by AI Chatbots in Singapore

Reading time: 16 minutes

Written by Loh Yu Tong | Edited by Josh Lee

We’re all law and tech scholars now, says every law and tech sceptic. That is only half-right. Law and technology is about law, but it is also about technology. This is not obvious in many so-called law and technology pieces which tend to focus exclusively on the law. No doubt this draws on what Judge Easterbrook famously said about three decades ago, to paraphrase: “lawyers will never fully understand tech so we might as well not try”.

In open defiance of this narrative, LawTech.Asia is proud to announce a collaboration with the Singapore Management University Yong Pung How School of Law’s LAW4032 Law and Technology class. This collaborative special series is a collection featuring selected essays from students of the class. Ranging across a broad range of technology law and policy topics, the collaboration is aimed at encouraging law students to think about where the law is and what it should be vis-a-vis technology.

This piece, written by Loh Yu Tong, demonstrates how Singapore’s present criminal framework is ill-prepared to address offensive speech made by autonomous AI chatbots. The author examines the possible regulatory challenges that may arise, and identifies a negligence-based framework – under which a duty of care is imposed on developers, deployers and malicious third-party interferes – to be preferable over an intent-based one. Other viable solutions include employing regulatory and civil sanctions. While AI systems are likely to become more complex in the future, the author holds out hope that Singapore’s robust legal system can satisfactorily balance the deterrence of harm against the risk of stifling innovation.

Legal Implications of Digital Surveillance: Individual Protection

Reading time: 14 minutes

Written by Lim Hong Wen, Amelia | Edited by Josh Lee

We’re all law and tech scholars now, says every law and tech sceptic. That is only half-right. Law and technology is about law, but it is also about technology. This is not obvious in many so-called law and technology pieces which tend to focus exclusively on the law. No doubt this draws on what Judge Easterbrook famously said about three decades ago, to paraphrase: “lawyers will never fully understand tech so we might as well not try”.

In open defiance of this narrative, LawTech.Asia is proud to announce a collaboration with the Singapore Management University Yong Pung How School of Law’s LAW4032 Law and Technology class. This collaborative special series is a collection featuring selected essays from students of the class. Ranging across a broad range of technology law and policy topics, the collaboration is aimed at encouraging law students to think about where the law is and what it should be vis-a-vis technology.

This piece, written by Lim Hong Wen, Amelia, seeks to analyse three key concerns that may arise from the use of digital surveillance, in particular, the issue of privacy, harassment, and algorithmic bias. This paper then examine how the four modalities expounded by Lawrence Lessig will come into play in regulating the use of digital surveillance (i.e. the law, architecture, social norms, and the market). Part II first explores the developments in the use of digital surveillance by the state, employers, and individuals. Digital surveillance has since transformed over the years and current laws may be insufficient in protecting individuals against certain unwanted forms of digital surveillance. Part III of this paper identified the inadequacies of current laws to address the key concerns identified earlier (i.e. privacy, harassment, and algorithmic bias). Given the lack of legal recourse available, Part IV then analyzed how the use or misuse of digital surveillance can be regulated by the remaining three modalities (i.e. the architecture, social norms, and the market).

Stablecoins: A Stable Picture in Singapore?

Reading time: 14 minutes

Written by Lee Da Zhuan | Edited by Josh Lee

We’re all law and tech scholars now, says every law and tech sceptic. That is only half-right. Law and technology is about law, but it is also about technology. This is not obvious in many so-called law and technology pieces which tend to focus exclusively on the law. No doubt this draws on what Judge Easterbrook famously said about three decades ago, to paraphrase: “lawyers will never fully understand tech so we might as well not try”.

In open defiance of this narrative, LawTech.Asia is proud to announce a collaboration with the Singapore Management University Yong Pung How School of Law’s LAW4032 Law and Technology class. This collaborative special series is a collection featuring selected essays from students of the class. Ranging across a broad range of technology law and policy topics, the collaboration is aimed at encouraging law students to think about where the law is and what it should be vis-a-vis technology.

This piece, written by Lee Da Zhuan, critically examines whether the present regulatory picture in Singapore presents a clear framework to govern the phenomenon of “stablecoins”.

As its name suggests, stablecoins have been held to be a form of cryptocurrency which are designed to function as the composition of some value which attempts to stay stable with traditional currencies or its underlying assets. Given its recent hype in Singapore as being the cryptocurrency which generates exceptional returns with significantly lower risk vis-à-vis other cryptocurrencies, an important question arises as to whether our current legislations presents a clear framework to regulate these cryptocurrencies. This paper examines this question by adopting the following approach. Part II provides a primer to stablecoins and its different classifications used today. Heralding on the information from part II, part III evaluates that the scope of coverage found in the current Payment Service Act is insufficient to cover various different classes of stablecoins. Part IV concludes with possible recommendations. It is the author’s hope that the findings presented from this paper would present an overview of the lapses of the Payment Services Act concerning the governance of stablecoins. 

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