Yahoo Finance Blockchain Association Singapore Welcomes Former Regulator as Latest Board Member
A former head of the Financial Services Regulatory Authority at Abu Dhabi Global Market has joined the advisory board of industry advocate Blockchain Association Singapore (BAS).
The appointment of Richard Teng comes at a time when the country’s institutional interest, innovation, and tightening regulations are increasing, the association said in a press release Monday.
Teng, who has become a member of the board, brings a wealth of experience from the financial and fintech sectors across multiple countries.
“Singapore is a jurisdiction that has strict regulations with clear and transparent guidance on digital assets,” said Chia Hock Lai, co-chairman of BAS. “Teng’s experience will be a valuable asset in our journey to build a conducive ecosystem, encouraging legitimate players to discover solutions and promote best practices in a collaborative, open, and transparent manner.”
Before his time in Abu Dhabi, Teng served as Singapore Exchange’s chief regulatory officer, where he oversaw policy and framework relating to trading, clearing, and settlement.
The new member is also a former director of corporate finance of the Monetary Authority of Singapore, where he oversaw the formulation and administration of the Securities and Futures Act, according to his LinkedIn page.
