Singapore Crypto Association ‘ACCESS' Releases Its Own Code For Good Practices

The Singaporean Association of Cryptocurrency Enterprises and Startups (ACCESS) has recently partnered with Linklaters, an international legal company, in order to write and publish its Code of Practices. ACCESS was fully supported by the local regulator, the Monetary Authority of Singapore, in order to launch this new document.

The new code will define the good practices in the industry, which should be followed by the members of the organization. The main idea was to standardize the good practices and to help companies that didn’t know how to proceed in some important topics.

For instance, the project provides a very detailed Anti-Money Laundering (AML) guideline that should be used by the companies to become fully legalized and not have any kind of issue with the regulators. Another reason for the creation of the code is to tackle any concerns that the government or local companies could have with proper compliance.

Linklater’s head of financial regulations Peiying Chua has affirmed that this has the potential to be an industry-changing initiative that will certainly improve the quality of the services that are being offered in the country and will help Singapore’ s reputation to become more famous.

ACCESS’ chairman Anson Zeall has also commented on the launch. He affirmed that Singapore will become more competitive internationally with the help of the new measures and that following the best practices will help businesses to cut down their costs and to stand out in the sector internationally.

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Hank Klinger
Hank Klinger
Hank Klinger has been working online for seven years now. He has written for several national companies. Hank has been a part of our team for over three years, reviewing ICOs, new cryptocurrencies and helping us keep up to date with industry news. His primary knowledge is in marketing, sales, and advertising, and he uses that knowledge to research and pick out reliable sources of information to use as a basis for his writing.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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