Singapore: ACCESS advocates Bitcoin use

Wednesday 18 June 2014 13:22 CET | News

The Association of Crypto-Currency Enterprises and Start-ups, Singapore (ACCESS), which was founded in May 2014, aims to inform the country`s population on Bitcoin’s usage in trading operations, reports.

ACCESS represents various businesses within the Singapore Bitcoin and other crypto-currency ecosystem, including exchanges, merchant transaction services, vending machines and miners. As a condition of membership, members must abide by a Code of Conduct.

ACCESS plans to promote Singapore globally as the world’s premier location for crypto-currency-related businesses and services. It recognizes the need for regulation, saying the framework must balance the necessity for innovation with the duty to protect both consumer end-users and commercial entities.

ACCESS will also promote the adoption and development of digital currencies in Singapore, through education, public engagement and effective engagement with governmental and non-governmental bodies.

Moreover, the development, spreading and adoption of a code of best practices by the local market of the digital currencies against fraudulent activities is part of the association’s agenda.

The 7 member executive team features other notable Singapore Bitcoin business representatives, including President Antony Lewis of exchange itBit, and Secretary General Jarrod Luo of local ATM/vending machine producer Tembusu Terminals.

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Keywords: Singapore, ACCESS, Bitcoin, trade, regulation, merchants, digital currency, online sales, Code of Best Practices
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce