Emerging technologies are technologies whose development, practical applications, or both are still largely unrealized, such that they are figuratively emerging into prominence from a background of nonexistence or obscurity. These technologies are generally new but also include older technologies that are still controversial and relatively undeveloped in potential. Emerging technologies are often perceived as capable of changing the status quo. ~ Wikipedia
Artificial Intelligence and Blockchain
We provide advisory on emerging technology related laws and its execution, such as the application of blockchain and artificial intelligence technology within the governance of existing laws.
The popular trend of the application of “Blockchain +” (meaning to widely apply the technology of blockchain into every business) and A.I. have attracted the issue of further compliance with existing laws such as Financial Services Act 2013, Digital Signature Act 1997, Computer Crimes Act 1997, Evidence Act 1950, Personal Data Protection Act 2010, privacy laws, etc.
Digital Currency / Digital Token
The Securities Commission has on 14 January 2019 issued the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019 to prescribe digital asset which is commonly known as “cryptocurrency” as digital currency and digital token under the purview of the Securities Commission.
We provide advisory to digital asset online trading platform to comply with existing laws such as the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 and relevant guidelines including but not limited Know-Your-Customer (KYC / e-KYC) and procedures to retain clients’ records.
We provide advisory relating to the laws of e-commerce to a number of e-commerce online platform operators, ranging from micro sellers to institutional operators, including but not limited to the legal liabilities and compliances based on the online e-commerce platform and other non-e-commerce platform, such as the platform’s terms and conditions, types of agreement, consumers’ liabilities, disclaimer, etc.
Fintech (Finance Technology)
Fintech is a line of corporate business based on using the latest technology to manage, operate, invent and develop financial related services such as online payment gateway system, remittance services.
To this, the Central Bank of Malaysia has issued the Financial Technology Regulatory Sandbox Framework to enable appropriate experimentation of fintech solution. We provide advisory to the fintech startups especially on the compliance of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA), Financial Services Act 2013 and other relevant government policies.