Singapore was one of the first jurisdictions in the world to introduce a bespoke regulatory framework for crypto businesses, or digital payment token service providers (DPTSPs), in January 2020. Over the past four years, hundreds of crypto businesses have attempted to secure a DPTSP license from the Monetary Authority of Singapore, but less than 30 have succeeded.
Join us as we discuss the journey to a crypto license in Singapore and beyond. Our panel of experts, who have all walked this journey, will share their reflections on:
- How the licensing process in Singapore has evolved and what lies ahead
- Navigating the license application and regulatory engagements
- Compliance and risk management as a regulated crypto business in Singapore
Grace heads the Financial Services Regulation practice in Drew & Napier LLC. She has extensive experience advising on cross-border and complex regulatory matters, including licensing and conduct of business requirements, regulatory investigations, and regulatory change. A former in-house counsel at the Monetary Authority of Singapore (MAS), she regularly interacts with key regulators, is closely involved in regional regulatory reform initiatives and has led discussions with regulators on behalf of the financial services industry. Grace has led regulatory teams in Singapore and Hong Kong at two international law firms, further developing her expertise in navigating complex financial regulatory environments across multiple jurisdictions. She also brings a strategic outlook from an in-house perspective having previously been a counsel in the Global Internal Investigations Group at the Hong Kong headquarters of a large leading multinational bank.
Grace has been consistently named as one of Singapore’s top 10 FinTech lawyers and is highly ranked in Chambers FinTech and Legal 500. She is particularly recognized for her expertise in emerging technologies, including digital assets, and the strategic integration of AI solutions within financial institutions. Her team provides dedicated regulatory support to banks, asset managers and fintechs on key regulatory areas, including banking and payments regulations, licensing and authorization processes, AML regulatory investigations and sanctions, ESG implementation and audits, outsourcing and data transfer arrangements, and reviews of ISDA agreements and ancillary documents.
Rajiv is a qualified Barrister in the United Kingdom as well as an Advocate and Solicitor of the High Courts of Malaya. He left practice to focus on the regulatory compliance landscape, having been involved in the buy side as well as overseeing a role across Asia Pacific for Corporate and Trust services for the world's largest fund administrator at the time.
He then put on his entrepreneurial hat to launch a successful regulatory compliance business before leaving this to venture out on his own, taking on multiple ad hoc projects, including spearheading the obtaining of the first DPT License in Singapore for a crypto exchange. He currently heads up Curia Regis, a renowned professional services regulatory compliance firm that focuses on improving the quality and standard of regulatory compliance services across the market. Rajiv is a well known expert in regulations and structuring pertaining to fund management and payment services businesses. He is also an avid sports buff, enjoying tennis, football, rock climbing and calisthenics, and can be found in the early mornings at the gym trying to do handstands.
Chun Hou is the Head of Legal and Compliance at HashKey Singapore, where he heads a team that provides commercial and regulatory support to all business lines of the HashKey Singapore (including HashKey Capital and HashKey OTC).
Chun Hou taps on his experience in the web3.0 and cryptocurrency sectors to collaborate closely with business leadership to navigate the regulatory landscape across multiple jurisdictions (Singapore, Hong Kong, Japan, UAE). Most recently, HashKey Singapore had successfully obtained several key licenses in Singapore, including the Major Payment Institution Licence and Capital Markets Services Licence from the Monetary Authority of Singapore.
Prior to joining the cryptocurrency space, Chun Hou served as APAC legal counsel for a regional payments group, where he managed all legal matters for regional operations in Asia. He built his early career experience as a practising lawyer focusing on investment funds and fintech.
Chun Hou's expertise lies in balancing agile business practices with stringent regulatory compliance to navigate the evolving landscape of financial technology and virtual assets.
Angela leads Asia Pacific public policy and government affairs for TRM Labs, a blockchain intelligence company that helps financial institutions, cryptocurrency businesses and public agencies detect and investigate crypto-related fraud and financial crime. Prior to TRM, Angela spent over a decade at the Monetary Authority of Singapore, where she held a diverse range of roles in regulatory policy, financial supervision, business development and consumer education, giving her deep insight into the full gamut of policymaking considerations for global financial regulators.
Angela was recently recognised as a Linkedin Top Voice for Finance in Asia for her thought leadership on digital asset developments in the region. She holds an MBA from INSEAD.
Ari Redbord is the Global Head of Policy at TRM Labs. Prior to joining TRM, Ari was the Senior Advisor to the Deputy Secretary and the Undersecretary for Terrorism and Financial Intelligence at the United States Treasury.
Ari worked with teams from the Office of Foreign Assets Control (OFAC), the Financial Crimes Enforcement Network (FinCEN), and other Treasury components to use sanctions and other regulatory tools to effectively safeguard the financial system from illicit use by terrorist financiers, weapons of mass destruction proliferators, drug kingpins, and other rogue actors, including Iran, Syria, North Korea and Venezuela.
In addition, Ari worked closely with regulators, the Hill and the interagency on issues related to the Bank Secrecy Act, cryptocurrency, and anti-money laundering strategies.
Prior to Treasury, Ari was an Assistant United States Attorney for the District of Columbia for eleven years where he investigated and prosecuted terrorism, espionage, threat finance, cryptocurrency, export control, child exploitation and human trafficking cases.