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ARTICLE · 14 NOVEMBER 2022

Regulatory Approach To Digital Assets In Hong Kong And Singapore

Mayer Brown
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Due to the growing popularity of digital assets, governments and regulators have had to examine their legal and regulatory frameworks to develop new laws to regulate market activities relating to this asset class...

GlobalTechnology
Alan Linning
Alan Linning
Wei Na Sim
Wei Na Sim
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Overview

Due to the growing popularity of digital assets, governments and regulators have had to examine their legal and regulatory frameworks to develop new laws to regulate market activities relating to this asset class, including and not limited to the management of fraud, market manipulation and anti-money laundering and counter-financing of terrorism (AML/CFT) risks presented by anonymized digital asset activities.

Unsurprisingly, digital assets were the focus of various announcements issued during Hong Kong's and Singapore's respective Fintech Week events held in early November 2022. This Legal Update provides an overview of the key developments in the evolution of the current approach to the regulation of digital assets in both jurisdictions, in particular:

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Mayer Brown is a global services provider comprising associated legal practices that are separate entities, including Mayer Brown LLP (Illinois, USA), Mayer Brown International LLP (England & Wales), Mayer Brown (a Hong Kong partnership) and Tauil & Chequer Advogados (a Brazilian law partnership) and non-legal service providers, which provide consultancy services (collectively, the "Mayer Brown Practices"). The Mayer Brown Practices are established in various jurisdictions and may be a legal person or a partnership. PK Wong & Nair LLC ("PKWN") is the constituent Singapore law practice of our licensed joint law venture in Singapore, Mayer Brown PK Wong & Nair Pte. Ltd. Details of the individual Mayer Brown Practices and PKWN can be found in the Legal Notices section of our website. "Mayer Brown" and the Mayer Brown logo are the trademarks of Mayer Brown.

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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