The US SEC’s Division of Corporation Finance recently issued a statement that certain stablecoins, which it called “covered stablecoins”, are not considered as securities. The “covered stablecoins” are those which: The SEC identified certain characteristics of the “covered stablecoins”, and their marketing, which it opined, would make those “covered stablecoins” non-securities.
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SEC: Most Stablecoins Are Not Securities
The US SEC’s Division of Corporation Finance recently issued a statement that certain stablecoins, which it called “covered stablecoins”, are not considered as securities. The “covered stablecoins” are those which: The SEC identified certain characteristics of the “covered stablecoins”, and their marketing, which it opined, would make those “covered stablecoins” non-securities. Characteristics of Covered Stablecoins […]
Recognizing a Foreign Divorce in Malaysia
Introduction – The Foreign Divorce Recently, our firm had the privilege of assisting our clients, who were divorced in a foreign court. The ex-husband is a foreign national, while the ex-wife is a Malaysian. In the case of a foreign divorce, i.e. a divorce obtained in a court outside Malaysia, how should the parties go […]
When Beneficiaries Trim Their Shares After the Founder’s Passing
Introduction Recently, on 10 October 2024, the Malay Mail reported that the family of the late Tan Sri Teh Hong Piow announced, they would sell down their shareholding in Public Bank from 23.4% to 10%, over a period of 5 years. This 23.4% shareholding is a mix of shares held personally by the late Tan […]
Irrevocable Power of Attorney vs Will
If you’re thinking of estate planning and the managing of your assets after death, legal instruments like wills and powers of attorney (POAs) are important. However, what happens when these instruments clash with one another? We recently encountered this question with one of our clients. They had a situation where this exact issue came up […]