Linklaters Chosen as Legal Partner to Singapore Crypto Association

Asia Blockchain Review
August 24, 2019

Legal firm Linklaters has been chosen to serve as a partner to the Association of Cryptocurrency Enterprises and Startups, Singapore (ACCESS), providing guidance on the Code of Practice drafted to further strengthen its Standardisation of Practice in Crypto Entities (SPICE) initiative, according to a report by the Global Legal Post.

The global law firm joins the Association of Banks in Singapore (ABS) as another provider of consultation and guidance as ACCESS works to bring greater legitimacy and ensuring responsible utilization in Singapore’s cryptosphere.

Bolstering Confidence in Singapore’s Crypto Realm

ACCESS, an entity facilitated by the Monetary Authority of Singapore (MAS), recently unveiled its draft Code of Practice as a collection of recommended actions and standards for any and all businesses and institutions dealing with cryptocurrency in Singapore. 

The Code especially focuses on anti-money laundering and countering the financing of terrorism (AML/CFT) to tackle concerns over the anonymity afforded by cryptocurrency allowing transfers and transactions for criminal or terrorist purposes.

Linklater to Provide Legal Guidance

Linklaters, which works with 490 partners across 20 countries around the world, deals directly with providing legal guidance and certainty. 

Peiying Chua, head of the firm’s financial regulation practice in Singapore, described the partnership with ACCESS as an honor and called SPICE an “industry-changing initiative from a legal and strategic perspective.” She said SPICE would “further cement Singapore’s reputation as a leading jurisdiction in the blockchain and fintech space.” 

Alongside ABS, Linklater will guide companies adopting the Code of Practice from a legal perspective. The Code includes key actions such as Know-Your-Customer (KYC) best practices and sets up standards likely to be integral once further regulations are implemented by the Singapore government. 


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
CBDC Research to be Released by Hong Kong and Thailand
Monetary authorities in Hong Kong and Thailand have deemed successful a joint study into a Central B...

November 18, 2019

Marseille Port Successfully Ends Trial for Blockchain System
Marseille Fos Port Authority has successfully carried out a blockchain test to develop solutions tha...

November 18, 2019

Shanghai Forms First Blockchain Consortium Focused on Customs
Government agencies in Shanghai, China’s central bank, and five other banks have signed a proposal t...

November 17, 2019

Tunisia Unveils Central Bank Digital Currency
The Central Bank of Tunisia has recently unveiled the ‘e-dinar’ in a test form and expects the digit...

November 17, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us