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Blockchain Association Singapore (BAS)

Blockchain industry association

SingaporeAssociation

About

Blockchain Association Singapore (BAS) is an industry association for Singapore's blockchain community. It launched in April 2020 through the merger of two associations founded in 2018: the Singapore Blockchain Association and Blockchain, Enterprise and Scalable Technologies (BEST). Its first co-chairs were Chia Hock Lai and Tan Bin Ru. It offers corporate, individual and student memberships.

BAS describes itself as a platform for members to work with global stakeholders, promote best practice and improve blockchain literacy. It says it is developing an industry code of practice. It runs education programmes with polytechnics and universities. Its courses have included certificates in stablecoin issuance, anti-money laundering, KYC and regulatory compliance for blockchain.

BAS responds to MAS consultations on digital assets. Its Regulatory and Compliance Sub-Committee made a submission on MAS's 2024 consultation on digital token service providers (DTSPs) after holding a members' seminar on 30 October 2024. The submission asked MAS to clarify when a Singapore entity would have only a limited link to Singapore. MAS published the submission with its response on 30 May 2025. This gives the local industry a collective voice on licensing scope.

Policy engagement

Responded to MAS's consultation on the regulatory approach for digital token service providers under the FSMA; MAS published its response in May 2025, ahead of the regime taking effect on 30 June 2025.

Source: MAS, 30 May 2025: response to feedback on DTSP regulations

Key actions

  1. MAS published BAS's submission on the proposed DTSP regime as part of its response to feedback under the Financial Services and Markets Act 2022.

    Source

  2. Held a members' seminar, attended by 32 people, to gather views for its response to the MAS DTSP consultation.

    Source

  3. Launched as a merger of the Singapore Blockchain Association and BEST, with Chia Hock Lai and Tan Bin Ru as co-chairs.

    Source

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