Binance to Restrict Offerings in Singapore

Written By Guest User

Users will no longer be able to access fiat deposit services, spot trading of crypto or buy crypto through fiat channels or liquid swap. Read the full article by: Jaime Crawley

Key Points:

  • Binance will be closing another branch of their services due to regulatory concerns in Singapore. This follows up months of regulatory battles with many countries in Europe.

  • Recently Binance CEO, CZ, said that they will now be looking to set up a centralized headquarters after a long time as a remote based company.

  • The Central Bank of Singapore says that Binance may be in violation of the countries Payment Services Act and have barred Binance from using the Singapore dollar as a trading pair.

  • Binance is recommending affected users to cease all related trades, withdraw fiat assets and redeem tokens by 04:00 UTC Oct. 26.

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