Crypto firm AriseBank was recently reported to have made false
claims, that it was operating a fraudulent Initial Coin Offering1. Like
the victims of AriseBank, you too may find that you are
dissatisfied with the digital tokens that you have purchased. You
may not have received the tokens in useable form or obtained the
promised features of the cryptocurrency. This article is intended
to provide a general summary of possible legal rights under
Singapore law that a Token Purchaser may have against a Token
Issuer if there has been a misrepresentation by the Token Issuer
which induced a token purchase from the Token Issuer.
A Token Issuer may make representations and claims, including
for example, promises about what services or goods it will provide
to Token Purchasers on its blockchain platform, what its token can
do, what licenses the Token Issuer has, what regulations it
complies with; and which exchanges their token is or will be listed
on. These representations may
