MDEC’s Talk: MDH Initiative – Common Legal Mistakes by StartupsAugust 15, 2018
#LawTechChats – “Legality of ICOs & How To Go About It In Malaysia”October 2, 2018
“So my view’s quite clear. I believe cryptocurrencies, Bitcoin is the first example, I believe they’re going to change the world”
-Richard Brown, Executive Architect of IBM
The emergence of cryptocurrencies in the 21st century has become a remarkable phenomenon in the history of financial transactions and payment systems.
According to a recent study conducted by the University of Cambridge, user adoption of cryptocurrencies has a combined market value of RM27 billion (Bitcoin has the largest market capitalization) and there are an estimated 2.9 to 5.8 million unique users using cryptocurrency wallets.
While recognizing that cryptocurrency transactions may not be just a passing fad and will continue to accelerate in growth, the regulatory authorities in Malaysia have advised the public to exercise caution and consider the risks associated with transactions using this digital currency.
To address the prevailing issues related to cryptocurrencies, Malaysia’s first cryptocurrency regulatory framework will be introduced in 2018.
To be able to comprehend the severity of the impact of not heeding to these words of caution, participants with an interest in or who are already involved in cryptocurrency transactions should equip themselves with a thorough understanding of the basic features of cryptocurrencies, how it works, how Blockchain supports cryptocurrency transactions and most importantly, the risks involved.
This programme’s primary aim is to provide a cautionary emphasis on these issues, risks and all the potential pitfalls surrounding and inherent in cryptocurrency transactions.
Speaker Gan Ming Chiek (most right)
Speaker - GAN MING CHIEK
Ming Chiek is a corporate, mergers & acquisitions (M&A) lawyer who has extensive experience in local and cross-border M&A, foreign direct investment, ASEAN based private equity and venture capital transactions and corporate structuring matters.
Apart from his conventional legal practices, Ming Chiek has since early 2017 ventured into the blockchain scene and has advised a number of international blockchain projects in Singapore, Malta and Gibraltar.
Through involvement in these projects, he has established a wide network of local and foreign partners from these crypto valleys. He believes that the crypto market is converging and blockchain technology is going to revolutionize everything from banking, supply chain, government, trading to even our identities.
Prior to this, he practiced with tier one corporate-focused law firms which regularly advise on many of the nation’s largest and most high-profile transactions.