Innovative team amplifying growth and building trusted digital ecosystems
As digital economies around the world continue to expand, new technologies are reshaping the global marketplace, presenting opportunities only limited by our imagination. However, great opportunity comes with even greater responsibility. Our “5ABCD” (5G, AI, blockchain, cloud and big data) era has propelled cybersecurity, data controls, consumer protection, competition compliance and ethics to the top of the list of concerns for organisations… and all are playing out against the backdrop of a complex global regulatory landscape.
OUR DIGITAL ECONOMY INSIGHTS
Breaking down the barriers - operational enhancements set to better facilitate participation in the CDR
New changes to the CDR Rules will have a significant impact on the CDR regime, particularly to reduce barriers to participation in the CDR regime, better facilitate participation by CDR business consumers and introduce other operational enhancements.
14 August 2023
Expanding Mainland China NFT platforms into Hong Kong – What do you need to know?
This article discusses: (a) an overview of the recent NFT landscape in Mainland China; and (b) the key issues to consider when issuing NFTs, launching an NFT platform, or providing NFT-related services in Hong Kong.
23 May 2023
The Future of Money: Will Central Bank Digital Currencies reshape the payments industry?
The world is moving into the ‘second wave’ of digital currencies issued by central banks – will they take hold and what does it mean for financial institutions, consumers and businesses worldwide?
19 May 2023
The Future of Money: Around the World in Central Bank Digital Currencies
From Australia’s pilot projects to Jamaica’s JAM-DEX, the UK’s budding Britcoin and China’s ever-expanding e-CNY, there is significant movement in central bank digital currencies (CBDCs) globally. Here, we take a journey around the world in CBDCs. Which countries are experimenting? Which have already implemented? And where is there resistance? For more on CBDCs, see our related insight on how they’re reshaping the payments industry.
19 May 2023
Move Fast and Make Things: Edition 3
KWM’s newsletter for venture capital backed companies, smart capital and crypto.
26 April 2023
Not by the same token - Treasury releases its Token Mapping consultation
This month, the Australian Treasury released the Token Mapping consultation paper (“Paper”), a “foundational step” for establishing a framework for reform for the crypto sector.
01 March 2023
Cryptoassets – Basel Regulatory Capital and Prudential Treatment
This article provides a high-level overview (including a visual guide) of the Basel Committee’s final standards on the regulatory capital and prudential treatment of cryptoasset exposures, which were published on 16 December 2022 (“Basel Cryptoasset Standards”). Under the new Basel prudential standards, unbacked cryptoassets (such as Bitcoin) and stablecoins with ineffective stabilisation mechanisms will be subject to a conservative regulatory capital and prudential treatment. The globally-agreed implementation date for the Basel Cryptoasset Standards is 1 January 2025.
06 February 2023
Making it through the VC ‘funding winter’: convertible notes and investor-friendly terms become more prominent
Companies that rely on venture capital financing have experienced challenging fundraising conditions in the last 6 months in stark contrast to the height of the VC market in late 2021. We are seeing VC investors
26 September 2022
Innovation at Speed: The Evolution of Money and Payments in Hong Kong
Hong Kong has long been an innovator when it comes to moving value at speed: from providing the launchpad for the world’s most used smart card system (Octopus) to implementing one of the earliest regulatory structures for virtual banking globally in 2000 (further enhanced in 2018 as part of a package of smart banking initiatives). Hong Kong also has a longstanding digital equivalence law – critical to digital transactions.
03 August 2022
VC Meets Crypto - 5 Lessons from the Metaverse
The cryptocurrency industry has come a long way in a few short years.
16 May 2022
Themes emerging from recent crypto attacks
We are barely finished with the first quarter of the calendar year and already we have seen multiple “hacks” in the crypto space that have resulted in the losses of over US$1 billion.
16 May 2022
What is an NFT?
With the explosion of web 3.0 and the metaverse, non-fungible tokens (NFTs) have come to the fore. Whether it be digital collectibles, gaming, artwork or sport, these unique tokens play an important role in metaverse based systems.
11 May 2022
Of charlatans and poor choices: how restrictions on crypto assets are growing worldwide
Yet the ancient origin of the word goes to the essence of today’s regulatory tension: ‘crypto’ has its origin in the Greek word ‘kruptos’, meaning ‘hidden’. Governments and regulators around the world are working to bring crypto assets into view.
22 February 2022
Report from Project Atom – Australia’s wholesale CBDC experiment – released
Through examining both the CBDC and its use, Project Atom demonstrates the potential to improve operational efficiency, risk management and innovation in wholesale funding.
08 December 2021
China’s digital RMB – is your business ready?
China's launch of a central bank digital currency (CBDC) has become a question of when and not if. The more important question for businesses is: how do I get ready for a digital RMB? After all, digitising the currency of the world's most populous nation and second largest economy may well be one of the most important changes to the financial system since China invented paper money more than one thousand years ago. In this article, we unpack the key aspects of China's CBDC from an onshore and offshore perspective as it continues to unfold, and provide insight into the key issues to consider in engaging with this refreshed and reimagined currency infrastructure.
27 April 2021
OUR FINTECH, CRYPTO & BLOCKCHAIN INSIGHTS
Funding winter – fixing the damaging valuation gap in APAC’s ailing Fintech companies
Amid a climate of high interest rates and other macroeconomic challenges, are APAC’s Fintech companies really unable to attract new investors and capital?
12 October 2023
Non-bank lenders: key issues in the thin capitalisation amendment bill
We have been considering the implications for non-bank lenders of the recently released Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Bill 2023 (Bill). The first version of these reforms was released in the March 2023 Exposure Draft (ED).
19 July 2023
Expanding Mainland China NFT platforms into Hong Kong – What do you need to know?
This article discusses: (a) an overview of the recent NFT landscape in Mainland China; and (b) the key issues to consider when issuing NFTs, launching an NFT platform, or providing NFT-related services in Hong Kong.
23 May 2023
Cryptocurrency is “property” under Hong Kong law: Part 1 – what are the key implications and what is the judicial position in Mainland China?
On 31 March 2023, in the landmark decision of Re Gatecoin Limited (In Liquidation) [2023] HKCFI 914 (“Gatecoin Case”), the Court of First Instance of Hong Kong has, for the first time, ruled that cryptocurrency is “property” under Hong Kong law. The Gatecoin Case is one step ahead of the Hong Kong Government’s policy statement that, in order to enhance investor protection, there is a possibility of introducing a statutory definition of cryptocurrency as property, while recognising that the unique characteristics of cryptocurrency may differ from traditional assets. In ruling that cryptocurrency is “property”, the Gatecoin Case brings Hong Kong’s jurisprudence in line with other major common law jurisdictions. Interestingly, despite Mainland Chinese regulators’ imposition of a general ban on cryptocurrency trading, the judicial position in Mainland China on the legal status of Bitcoin also broadly aligns with that in major common law jurisdictions.
08 May 2023
Move Fast and Make Things: Edition 3
KWM’s newsletter for venture capital backed companies, smart capital and crypto.
26 April 2023
How technology is transforming green finance: blockchain carbon credit bonds break new ground
Green bonds have surged in use over the past two years, but the future growth and effectiveness of the market is threatened by difficulties confirming the credit quality of an issuer and ensuring proceeds are used to fund green projects.
21 March 2023
Not by the same token - Treasury releases its Token Mapping consultation
This month, the Australian Treasury released the Token Mapping consultation paper (“Paper”), a “foundational step” for establishing a framework for reform for the crypto sector.
01 March 2023
Not your regular Merger
The Merge is probably the most anticipated and complex upgrade to Ethereum in the blockchain’s history. Its impact may extend far beyond Ethereum, making the Merge, quite frankly, one of the most important moments in the history of the crypto market. But what is the Merge, and why does it matter?
26 September 2022
Making it through the VC ‘funding winter’: convertible notes and investor-friendly terms become more prominent
Companies that rely on venture capital financing have experienced challenging fundraising conditions in the last 6 months in stark contrast to the height of the VC market in late 2021. We are seeing VC investors
26 September 2022
Crypto's sanctions storm
In the midst of a crypto market downturn, further turbulence for the industry has formed. Tornado Cash, a mixing service for cryptocurrencies has been sanctioned by the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”).
06 September 2022
VC Meets Crypto - 5 Lessons from the Metaverse
The cryptocurrency industry has come a long way in a few short years.
16 May 2022
Themes emerging from recent crypto attacks
We are barely finished with the first quarter of the calendar year and already we have seen multiple “hacks” in the crypto space that have resulted in the losses of over US$1 billion.
16 May 2022
What is an NFT?
With the explosion of web 3.0 and the metaverse, non-fungible tokens (NFTs) have come to the fore. Whether it be digital collectibles, gaming, artwork or sport, these unique tokens play an important role in metaverse based systems.
11 May 2022
Of charlatans and poor choices: how restrictions on crypto assets are growing worldwide
Yet the ancient origin of the word goes to the essence of today’s regulatory tension: ‘crypto’ has its origin in the Greek word ‘kruptos’, meaning ‘hidden’. Governments and regulators around the world are working to bring crypto assets into view.
22 February 2022
Report from Project Atom – Australia’s wholesale CBDC experiment – released
Through examining both the CBDC and its use, Project Atom demonstrates the potential to improve operational efficiency, risk management and innovation in wholesale funding.
08 December 2021
Building a legal architecture for the metaverse
Written by Urszula McCormack, Annabel Griffin, Leonie Tear, Hannah Glass, Violet Wong and Nikita Ajwani.
17 November 2021
A legal guide to NFTs and NFT platforms
This publication was written by Urszula McCormack, Peter Bullock, Hannah Glass, Luke Hawthorne, Evan Manolios, Nikita Ajwani and Jack Rathie
25 June 2021
ICOs – A Dripping Roast for Disputes Lawyers?
This article was written by Peter Bullock.
08 January 2018
10 things you need to know about Ethereum
Ethereum relies on a blockchain — a transaction record that is independently verified by others and held on a distributed ledger. The same technology underpins Bitcoin. However, the Bitcoin blockchain is predominantly designed to do one thing: facilitate Bitcoin transactions. Ethereum, on the other hand, is designed to act as programmable infrastructure. This means that Ethereum is a more adaptable and flexible development platform.
07 August 2017
"Know Your Token": A guide to participating in token sales
Token sales are rapidly gaining momentum as the darling of capital raising in the digital economy.
31 July 2017
10 things you need to know about Initial Coin Offerings (ICOs)
A token is an intangible asset stored on a blockchain which entitles a token holder to a bundle of rights (and possibly liabilities) set out in smart contracts and other relevant documentation (such as an offering document or a whitepaper).
03 July 2017
10 things you need to know about blockchain in finance and financial markets
Blockchain is the technology behind bitcoin but its use far exceeds digital currencies. The importance of blockchain to finance and financial markets is its potential beyond bitcoin.
04 August 2016
