Digital Assets – Regulatory Framework And Emerging Legal Trends

A. Overview and Comparison of Regulatory Framework of Digital Assets in Different Jurisdictions

Digital assets may take the form of digital currency or digital token, these assets are created and stored digitally and only exist in digital form. They carry value and could be owned and transacted. Private keys are used to authorize transactions and prove ownership of such assets. The legal definition of digital asset is found under the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019.

A brief comparison of the regulatory framework in Malaysia, Singapore and the UK is set out in the table below: