On Tuesday 12 April 2022, from 2.30pm to 4pm, I will be speaking on a panel discussion organised by the Law Society of Singapore. We will cover the Practicalities of Enforcement of Crypto-assets.
Write-up on the seminar:
Transactions using crypto-assets are gaining ground worldwide. Employees, service-providers, financial institutions and funds are increasingly willing to accept crypto-assets as payment or as collateral for payment.
However, unlike fiat currency, crypto-assets such as coins and tokens might not be deemed ‘fungible’ even where they are notionally linked to the value of fiat currency. They exist in virtual realms that are not bound by physical borders, transaction quantity limits or other traditional currency controls; and often take place between users who operate under pseudonyms using IP addresses that may be in a different location from where the actual user is sited.
Further, crypto-currency transactions, once completed, are arguably irreversible in circumstances where there is there is no controlling authority that can undo transactions without the user’s release of his or her private key.
As a result, there are practical challenges that arise when an aggrieved party seeks to use the traditional court system as a means of recovery when crypto-fraud occurs.
Moderated by Danny Quah, director of TSMP Law Corporation, I will be joining my fellow speakers: