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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...

Videocast: Cryptoassets and the regulatory environment—A look across the Atlantic

Regulators are grappling to define cryptoassets and are applying existing regulations or contemplating new rules to oversee markets for these new asset class(es). In this Bottom Line videocast, Eversheds Sutherland (US) Partner Greg Kaufman and Eversheds Sutherland (International) Partner Andrew Henderson discuss: important jurisdictional and definitional issues before US courts the UK...

Poland implements comprehensive cybersecurity legislation

Poland is the latest nation to pass extensive cybersecurity legislation that will impact many companies that do business in Poland. The legislation, called the Act on the National Cybersecurity System (ANCS), pertains to critical infrastructure companies and providers of digital services. Any organization that operates within Poland and is designated as one of these types of companies...

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