Singapore association set up for bitcoins and other crypto-currencies

Bitcoin entrepreneurs have come together to form an association for enterprises and start-ups dealing in bitcoin and other crypto-currencies. - PHOTO: AFP
Bitcoin entrepreneurs have come together to form an association for enterprises and start-ups dealing in bitcoin and other crypto-currencies. - PHOTO: AFP

SINGAPORE - Bitcoin entrepreneurs have come together to form an association for enterprises and start-ups dealing in bitcoin and other crypto-currencies.

The Association of Crypto-Currency Enterprises and Start-ups, Singapore (Access) was formed on May 30 and is registered as a society with the Registry of Societies, the association said in a press release on Sunday.

Its members hail from "various businesses" within the Singapore ecosystem of bitcoins and other crypto-currencies, including exchanges, merchant transaction services, vending machines and miners.

Crypto-currencies are a form of digital, or virtual, currency that uses cryptography to link together transactions made with the currency in question.

Access' objectives are to promote Singapore as a premier location for crypto-currency businesses and services, to increase the use and development of the industry's technologies in Singapore, to provide a "united public voice and platform" for the crypto-currency community, to engage with the authorities to create an industry-friendly climate for crypto-currency businesses, and to advocate best practices within the industry.

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