Earlier this week, two local organizations representing the local financial technology (FIECH) industry have concluded that Singapore banks have denied banking services for bitcoin and prevented initial business.
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Singapore's Cryptoncurrency and Blockchain Industry Association, or Access filed a formal complaint to the Singapore government, requesting the authorities to take steps and create a fair and transparent climate for financial companies. "From our analysis, it seems to be common among the leading Fintech center. If this is the case, then we will be seeking a role of leadership in Singapore and will present an effective resolution for all parties," said President Anasn Association .
According to Zell, 10 companies have already filed complaints for access, and other companies have filed additional complaints for other financial institutions and organizations.
