“ACCESS aims to provide an open and clear dialogue between Singapore cryptocurrency businesses and the wider public, including regulators. With the forming of our association, we will help facilitate an ecosystem where Singapore can be a hub for cryptocurrencies businesses to grow and create jobs related to this new and growing technology.”
"...My impression is that Singapore has a very active Bitcoin start-up scene and that the government has recognized Bitcoin's huge potential for growth and innovation.
"Like all governments they want to keep a certain control and they don't know how to do it, as Bitcoin is uncontrollable, but the government of Singapore is a clever one, so I am optimistic they will not stifle the flourishing Bitcoin economy but rather attract more start-ups from abroad to come to Singapore. - Aaron Koenig, General Secretary, Global Bitcoin Alliance
- Aaron Koenig, General Secretary, Global Bitcoin Alliance
"The creation of entities like the Association of Crypto-Currency Enterprises and Start-ups, Singapore (ACCESS) will help to develop business, inform the general public and lobby regulators about digital currencies. The users and applications of digital currencies took most governments and banking by surprise, and as they've seen it is unstoppable. It will also unite a voice in favor of its acceptance, which will bring international investors and companies to establish and develop their companies in what would be an embracing and friendly cryptocurrency environment.
The SG government can only regulate entries and exits of cryptocurrencies, such as the exchanges or ATMs. I think ACCESS can only assist in the matter while keeping over regulation of the core technology from happening (which would drive things underground).