Blockchain Association Singapore (BAS) today announced the appointment of Mr Richard Teng, former CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM), as a member to its Advisory Board. Mr Teng brings with him vast experience in the financial and fintech sectors across multiple countries. His appointment also coincides with growing institutional interest, rapid innovation, and tightening of regulations within the digital asset sector. Mr Teng’s appointment will expand the current Advisory Board of BAS to three members.
Mr Teng has previously served as the Chief Regulatory Officer of the Singapore Exchange (SGX), overseeing the development of policies, framework and rules across the areas of listing, trading, clearing and settlement. Prior to his stint at SGX, he was the Director of Corporate Finance at the Monetary Authority of Singapore, where he was responsible for the formulation and administration of the Securities and Futures Act in relation to the offering of securities, business, and real-estate investment trusts, as well as collective investment schemes.
Mr. Teng has also played a significant role in driving the fintech and financial services sector on an international scale. During his time at the ADGM, he was in charge of developing innovative regulatory regimes and offerings, bridging gaps in the finance ecosystem. He was also recently appointed as an Independent Director to the Board of UAE-based LuLu Financial Holding, driving the global diversification and investment strategy of the financial services sector.
Commenting on the appointment, Mr Chia Hock Lai, Co-Chairman, Blockchain Association Singapore, said, “Singapore is a jurisdiction that has strict regulations with clear and transparent guidance on digital assets. Mr. Richard 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.”
Speaking on his appointment, Mr. Richard Teng said, “It is a privilege to join the Advisory Board of Blockchain Association Singapore. I look forward to providing strategic guidance to the BAS in promoting education, exchange of ideas, and thought leadership in the areas of blockchain and digital assets.”