Came across this interesting article on how one's credit score could basically make or kill you in China. Would this go on to become a global phenomenon? 

Can be quite scary, if you think about it.

www.wired.com/story/age-of-social-credit/

Wishing all our clients and friends a very Happy and Wonderful New Year Ahead!

While somewhat more forward thinking than accounting standard setters, IRAS has already come up with a circular on how virtual currencies will be taxed in Singapore.
Read more about it here.
As we ponder over how proceeds from an ICO should be accounted for, we know now that if it is treated as revenue, there's a possibility it will be taxed at the virtual currency exchange rate. No big surprises there .

With Bitcoin's exponential rise in market value, everybody including your cleaning auntie is asking how to put money in it. Of course, bitcoin isn't the only cryptocurrency around and you might be considering the other alternatives out there.
These questions, extracted from the US SEC's public statement, will help guide you into making a sound investment decision:

• Who exactly am I contracting with? 
  • Who is issuing and sponsoring the product, what are their backgrounds, and have they provided a full and complete description of the product?  Do they have a clear written business plan that I understand?
  • Who is promoting or marketing the product, what are their backgrounds, and are they licensed to sell the product?  Have they been paid to promote the product?
  • Where is the enterprise located?
• Where is my money going and what will be it be used for?  Is my money going to be used to “cash out” others?
• What specific rights come with my investment?
• Are there financial statements?  If so, are they audited, and by whom?
• Is there trading data?  If so, is there some way to verify it? 
• How, when, and at what cost can I sell my investment?  For example, do I have a right to give the token or coin back to the company or to receive a refund?  Can I resell the coin or token, and if so, are there any limitations on my ability to resell?
• If a digital wallet is involved, what happens if I lose the key?  Will I still have access to my investment? 
• If a blockchain is used, is the blockchain open and public?  Has the code been published, and has there been an independent cybersecurity audit?
• Has the offering been structured to comply with the securities laws and, if not, what implications will that have for the stability of the enterprise and the value of my investment?
• What legal protections may or may not be available in the event of fraud, a hack, malware, or a downturn in business prospects?  Who will be responsible for refunding my investment if something goes wrong?
• If I do have legal rights, can I effectively enforce them and will there be adequate funds to compensate me if my rights are violated?

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We are excited to be in our new office!

Our new location is :
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