Mills Oakley played a key role in the launch of a new cryptocurrency for a Singapore public company.
The firm advised Investment Evolution Coin Ltd. (IEC Ltd) on the launch of the IEC cryptocurrency. IEC runs off its own blockchain network and was launched without an initial coin offering.
IEC will initially be used to facilitate payments in the Philippines, allowing Filipinos in Europe and the Middle East to make payments to the Southeast Asian country without cost. IEC will then be launched in other markets. The cryptocurrency is currently traded on PayBito, a global cryptocurrency exchange, and will also be traded on the Investment Evolution Exchange in Malta and Dubai.
The Mills Oakley team was led by corporate advisory partner Daniel Livingston. He and his team advised on the launch, including on regulatory and structure matters.
The firm’s work demonstrates its capacity to grow with the times and innovate, Livingston said.
“Our focus on emerging technologies allows us to respond quickly and effectively to new ways of doing business. Now is a great time to be a lawyer in this space,” he said.
The work has earned praise from Paul Mathieson, IEC Ltd chair and chief executive.
“It is a pleasure to partner with Mills Oakley and particularly Daniel Livingston, who we consider to be one of the leading cryptocurrency/blockchain lawyers in Australasia,” he said. “Most lawyers tell you what you can’t or shouldn’t do. Mr Livingston tells you what you can legally do and how to do it.”
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