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Markspace VR Project (20++ M)

Gravitas Group Overview. Markspace VR Project (20++ M). Gravitas International - Consulting. 1. Gravitas.Financial – Challenger Bank. 2. Gravitas Ventures – 100M VC Fund. 3. Real Estate + Digital Assets Platform. 4. Echarge (40M). Malcolm Tan Chambers LLC – Law Firm. 5.

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Markspace VR Project (20++ M)

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  1. Gravitas Group Overview Markspace VR Project (20++ M) Gravitas International - Consulting 1 Gravitas.Financial – Challenger Bank 2 Gravitas Ventures – 100M VC Fund 3 Real Estate + Digital Assets Platform 4 Echarge (40M) Malcolm Tan Chambers LLC – Law Firm 5

  2. Digital Industry Projections 2019 - Onwards In the recent years, there has been a boom in technology enabled disruptive sectors and businesses. Mobility became huge with Uber and Grab, Smart Cities became a race between cities and governments such as Singapore, Abu Dhabi, Barcelona. Artificial Intelligence and Deep and Machine Learning, Robotics, IoT etc are all generating a lot of interest. In the Fintech and financial space, experts such as Dan Morehead of Pantera Capital Management and Chinese Premier Xi Jin Ping have predicted that the digital assets market will be worth up to US100 trillion dollars by the year 2020.

  3. Updates on Hong Kong SAR 2018 – 2019 In the Fintech Space, Hong Kong SAR has in the past year introduced 5 digital banking licences and is embracing the need to go online and go digital. In the Distributed Ledger Technology space, the Hong Kong SAR Monetary Authority came up with requirements this year for advisory companies and advisors assisting Token Issuers to have a capital market services Type 9 licence in order to legally do so.

  4. Updates on Singapore 2019 updates (1) In the Fintech Space, the Monetary Authority of Singapore recently announced that 5 digital banking licences would be awarded. Companies such as Grab and Razor have already put their names in the hat, along with other players in the industry. In the Distributed Ledger Technology and Payments space, Singapore passed the Payment Services Bill this year, which will come into effect at the end of 2019 or early 2020, which will require almost all digital token issuers to have a licence in order to operate. Singapore is the home to many digital exchanges from around the world and will be passing a Recognised Market Operator law that will regulate digital exchanges with 3 tiers. A tier 2 licence was already awarded in late 2018 to Capbridge, which was invested in by the Singapore Stock Exchange, SGX. Binance was invested into by Temasek Holdings in 2018.

  5. Updates on Singapore 2019 updates (2) Singapore’s sandbox regime has also seen an upgrade by way of MAS introducing “expedited sandbox” processes that allow applicants to get sandbox status in a very short period of time, for an initial few categories such as insure-tech and digital exchanges. Singapore is also enacting the “VCC” – Variable Capital Company law soon, which will enable Singapore to compete with the Cayman Islands, Seychelles and other offshore jurisdictions for the setting up and operation of fund management companies. Singapore’s tax authorities have decided from 1 Jan 2020 onwards to treat all digital tokens as non-supply items, that will not have Goods and Services Tax on them, and will not be treated as supply items.

  6. Updates on Malaysia 2019 updates The new government is pushing strongly for digital initiatives, and on 14 Jan 2019 announced that all crypto-related activities were unlicensed and banned until further updates. 10+ exchanges were named and had to cease activities. Recently, after considering 22 applications, 3 digital exchange licences were issued to operators. Malaysia is the first country in the world to treat all digital assets as securities, and to require securities related licences in order to operate such assets.

  7. Updates on Indonesia 2018 - Onwards Indonesia had a negative view of the digital assets industry prior to May 2018, but in June 2018, Indonesia took a “pro” crypto stance, with multiple authorities such as the Bappebti stating that crypto-currencies were not illegal and were to be treated as commodities but were not legal tender. The only requirement in Indonesia in relation to digital assets is that as long as a token is not used for Payments, it would not need to be regulated. However, any digital assets used for Payments would require the issuing company to have a valid Payments licence.

  8. Updates on Cambodia 2018 - Onwards In the technology space, Cambodia is taking a generally progressive stance, being the third country in the region (Hong Kong and Singapore being the others) to allow companies to be set up online, and having progressive laws relating to incorporating business entities. In the digital assets space, Cambodia stated cryptocurrencies were not illegal, but warned the public against risks associated with such, and the state bank warned all banks not to get involved in crypto-currency activities. There is word that the Cambodian government is intending to issue its own state-controlled digital currency and there is already an interbank state currency used for clearing within its banking system.

  9. Updates on Myanmar 2017 - Onwards In the Fintech Space, Myanmar is generally much slower to react than its neighbours, due to the new government in place still getting its footing right. Some licences for digital banks and remittance and payments have been issued, but at a very slow pace, and not much reform in this space has taken place as yet.

  10. Updates on Thailand 2018 - Onwards In 2018, Thailand rapidly introduced regulations pertaining to digital assets, and today there are a few digital exchanges that have licences to operate in Thailand, under close supervision from the Thai SEC. There was a lot of investment and speculation activity in Thailand prior to the laws being passed, in the digital assets space, but that has largely reduced and been seen in overseas projects instead. Restrictions put in place by the Thai SEC has cooled off this market tremendously in Thailand. So in Thailand, ICO’s and cryptocurrencies are allowed and not banned, but strictly regulated and subject to licensing requirements.

  11. Updates on Laos 2018 - Onwards Since 2018, the Laos government and central bank has supported a digitization initiative and there is support for a digital exchange and a stable coin backed by gold, that is based in Laos, with various licences being lined up for approval. This project is still ongoing and will be seen in the coming years.

  12. Updates on Philippines 2018 - Onwards Around the same time as the Thai SEC’s regulations being passed in Thailand, the Philippines government also worked on new regulations governing digital assets. The thrust of the regulations were to allow companies to set up in the Philippines, but not to target and sell to the Filipinos. This would be in keeping with the general policy relating to casinos and the gaming industry as well. However, although the new laws were supposed to be passed by January 2019, they have been delayed and have not been clearly spelt out as yet. These new regulations should be in place by 2020, as things appear right now. The Philippines central bank took the position that digital assets are not legal tender but can be used to effect transactions and payments.

  13. Updates on Vietnam 2018 - Onwards In the digital assets space, in late 2017, Vietnam passed a law that made it illegal to make payments via digital assets. There would be a fine for parties caught doing this. However, trade and transfer of such assets is not illegal – this is quite a similar stance to Indonesia’s position. There is still a wait for the Vietnamese position to be clarified on digital assets as there was an announcement in December 2016 that there would be a clear legal framework for bitcoins and other cryptocurrencies in Vietnam.

  14. Digital Assets Summary Novelty One of the strongest selling points of digital assets are their novelty. Investors and venture capitalists are constantly looking for new methods to make money, and digital assets are no different. 6 5 4 Fractional Ownership Assets are able to be split into fractional units, which opens up the market for investors with lower budgets. This allows for a lower barrier to entry on the investor side. Our Offerings We work with many projects that digitize their offerings, and interested investors and businesses can look for us to discuss opportunities in more detail.

  15. Contact Us 80 Robinson Road, Level 8, Singapore info@gravitas.international +6597227025

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