Eversheds Sutherland Cybersecurity and Privacy Insights Blog
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Vietnam sheds light on impending cybersecurity law

Vietnam recently issued a draft decree that clarifies the scope of its impending cybersecurity law and its impact on foreign businesses. The law is set to go into effect on January 1, 2019, though the implementation of certain requirements that impact foreign companies the most will likely be delayed. Unlike other cybersecurity and data privacy laws passed this year, which were...

SEC and CFTC continue efforts to regulate cryptocurrency

Important events at the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) last week further indicate these regulators’ strong intent to oversee cryptocurrency markets. On November 7, 2018, the CFTC Chairman gave a speech encouraging regulators to leverage technology to help keep pace with technological advancements in the cryptocurrency space....

India’s highest court defends data privacy

India’s Supreme Court recently issued a holding that increases the data privacy protection that businesses operating in India must provide. The holding strikes down the portion of Section 57 of the Aadhaar Act that had previously allowed businesses to require national ID numbers, known as Aadhaar numbers, for “any purpose.” The industries most impacted by this ruling will likely be...

Malaysia seeks to expand personal data protection

Malaysia is looking to impose a data breach notification (DBN) requirement to its existing data privacy law, which would impact companies around the world who do business in Malaysia. The Malaysian Personal Data Protection Commissioner is currently hearing feedback on Public Consultation Paper No. 1/2018, which would impose a DBN requirement on companies that need to be registered with...

Virtual currencies as commodities—CFTC wins battle in the fight to define cryptocurrencies as commodities but has it won the war?

A federal court in Massachusetts allowed the US Commodity Futures Trading Commission’s fraud case against virtual currency operators to continue by finding that the digital coin met the definition of “commodity” under the Commodity Exchange Act. The court rejected the defendants’ argument that the virtual currency at issue was not a “commodity” because there was no futures contract...

Financial institutions in Singapore to strengthen their cyber resilience— Monetary Authority of Singapore consults on cyber security measures

Recently, JPMorgan Chase CEO Jamie Dimon warned that the “biggest vulnerability” for the financial system is the threat of cyber attacks. Hackers, especially those working for nation-states, have grown more sophisticated and more determined, especially as geopolitical tensions rise. On September 6, 2018, the Monetary Authority of Singapore (MAS) issued a Consultation Paper on the...

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