Singapore industry organization Access seeks public feedback on the digital asset industry code of practice

The Singapore Cryptographic Money Enterprise and Access Enterprise Association (Access) is seeking public comment on its newly drafted Code of Practice. The Code of Practice is the encryption of the Access Entity's Encrypted Entity Business, supplementing the Payment Services Act as it standardizes the handling of anti-money laundering and counter-terrorism financing, KYC best practices, and other related to encrypted assets and blockchain companies. The method of the key problem. These are the main considerations for Singapore's licensing and regulation of digital payment service providers. In a statement issued on Tuesday, Access stated that the Code of Practice, promoted by the Monetary Authority of Singapore (MAS) and negotiated with the Association of Banks of Singapore (ABS), emphasizes the importance of partnerships to strengthen and complement the regulatory Regulatory. MAS Chief Financial Technology Officer Sopnendu Mohanty said that MAS welcomes the industry's comprehensive cooperation and develops a set of guidance to help banks and encryption blockchain start-ups strengthen regulatory compliance. Access will welcome public feedback before September 10.