Technology and Cryptocurrency Disputes
The FinTech, blockchain, and digital asset sectors are rapidly evolving, creating constant change in today’s commercial, legal, and regulatory landscapes. The possibilities offered by these new developments have affected the ways that businesses and investors operate. Coupled with potential security risks and the cross-border nature associated with such transactions, there is a growing need for practical and timely legal advice, that has to be grounded in a firm understanding of the underlying technologies / assets.
We have experience acting for a diverse range of stakeholders in various related matters. These include claims by investors against cryptocurrency exchanges and startups, transactions between technology service providers and customers, applications for regulatory approvals of coin / token offerings, purchase of cryptocurrency mining rigs / equipment, shareholder and management disputes within startups.
Together with our network of partners, our services include corporate advisory and structuring for startups, advisory on regulatory compliance / related applications within Singapore, protection and recovery of assets by investors and financiers, as well as dispute resolution involving technology, blockchain, and digital assets.
Notable Briefs
Obtained full recovery of all assets within a few months from being instructed, which was instrumental in preserving the asset value due to the volatile market condition during the COVID-19 pandemic at that time.
Provided the relevant legal opinions for the client’s intended token issuance, where subscribers of the tokens would be able to use them for staking (to support the blockchain operations required to operate the issuer’s platform), and also purchasing of non-fungible tokens (“NFTs”) from content creators who are also users of the platform.
The claim was brought by PermianChain Technologies Inc (a Canadian-based blockchain start-up that works on enhancing the way natural resource reserves are funded, produced, and traded), for procurement of multiple Bitcoin mining machines which were to be delivered for use in Canada.
The Genius Group is an AI-powered education group with over 5.7 million students in over 100 countries. It is listed on the New York Stock Exchange and has subsidiaries across various continents including the Americas, Asia, and Africa.
The dispute relates to USDC invested under various instruments including a Simple Agreement for Future Equity (“SAFE”) and a Private Token Sale Agreement (“PTSA”), conversion of equities under the SAFE, and vesting and delivery of tokens under the PTSA.
