Dec 6, 2021

1 min read

Samecoin Secures Legal Opinion

Hey Samecoin Community!

Earlier in November, Samecoin, in collaboration with our lawyers in Singapore and Malta, achieved the major milestone of getting a legal opinion. This legal opinion states that under current Singapore law, SAME “is unlikely to be construed as a ‘capital markets product’ under the Securities and Futures Act, Chapter 289 of Singapore (the “SFA”). For the sake of completeness, the Token is likely to be construed as a ‘digital payment token’ under the Payment Services Act 2019 (the “PSA”)”. This is the same classification as Bitcoin and Ethereum. Singapore currently has one of the most respected cryptocurrency regulations and it puts Samecoin in a better position, in terms of regulation, to achieve its vision of putting crypto into every person’s pocket. This milestone achieves the following:

  1. It puts Samecoin in a favourable position should we be required to engage in dialogue with regulators in the future.
  2. It publicly displays that Samecoin and it’s ecosystem of products are being built with a long-term vision of a crypto-enabled future.
  3. It positions SAME as a fundamentally strong token, not a meme coin, not an OHM fork and not a rug pull.
  • The Samecoin Team

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