Singapore tells Binance to halt service in latest Crypto hit The exchange, which appears to have flouted financial laws in dozens of countries, recently received a warning from Singapore’s central bank and has now heeded it and halted spot trading and fiat deposits. The Monetary Authority of Singapore [MAS] is in the news today after it put the cryptocurrency exchange on its regulatory radar. Binance will cease access of users in Singapore to certain functions on Binance.com, according to a blog post today. Binance Asia Services has applied for a license and is temporarily exempt from one until the application is approved, rejected or withdrawn. - Updated Sep 03, 2021. MAS decided to ban Binance because it didn’t submit an application to operate in Singapore. Straits Times / 15 Nov 2021 Singapore set to grow as arbitration powerhouse Post-pandemic recovery should provide the impetus to propel Singapore as a leading global player in arbitration. #1. it means as long as I am in Singapore cannot use? Binance To Ban Singapore Users From Crypto Trading … Binance. 01:00 – Huobi Global App and Web 01:40 – Getting Started with Huobi Global Singapore has joined the growing list of jurisdictions in which Binance is halting its services following regulatory scrutiny. As Binance constantly evaluates its product and service offerings to remain compliant with local regulations, we will cease the following products and offerings in Singapore on Friday, 2021-09-10 04:00 AM UTC (12:00 PM UTC+8). Binance Ban for Singapore Investors (Explained) For those of you who missed it – Binance recently announced that from 26 October 2021, Singapore users of Binance will no longer be able to access:. A representative from MAS reportedly said that the US crypto exchange which operates Binance.com, is providing unlicensed payment services in breach of the payment services act. Jul. While Binance has continued to accelerate its compliance efforts, its regulatory woes just keep mounting. Binance advised customers to finish all trades and remove advertisements by midday UTC+8 on Thursday “to avoid potential trading disputes.” The Monetary Authority of Singapore said on September 2 that it “is of the view that Binance, the operator of Binance.com, may be in breach of the Payment Services Act” and ordered it to stop providing payment … While the cryptocurrency market has been bearish this month, Binance coin has kept the bullish momentum, pushing higher. 12.4k. Singapore is the latest country to crack down on Binance. 2021-09-05 10:59. OKEx is a world-leading cryptocurrency exchange, providing advanced financial services to global traders by using blockchain technology. Click the confirmation link in the email and login again. In the past months, the crypto platform had to ban users in Singapore from downloading its mobile app because of restrictions. Whilst we do not know the exact details that led to Binance International’s ban in Singapore, it would stand to reason that it does not meet one … “Binance Singapore (Binance.sg) is a separate legal entity from Binance.com with its own local executive and management team and does not offer any products or services via the Binance.com website or other related entities, and vice versa. Binance may be … Messages. Any axie avid gamers in singapore or countries the assign binance is banned? In early September, Binance warned that it would ban the use of the Singapore dollar in transactions on the platform, as well as remove applications from the regional App Store and Google Play. Reaction score. Secure and Reliable State-of-the-art safe storage technology for maximum security. Binance. The Easiest Way to Buy Cryptocurrency in Singapore. Binance has dominated the headlines this past week. Binance Singapore, which operates under Binance Asia Services, said the MAS ban on Binance has “no direct impact” on the services it provides. Binance has since taken various measures to improve its regulatory compliance, such as reducing daily withdrawal limits for unverified users, shutting tokenized stock trading, and introducing a tax tool. akub Porzycki/NurPhoto via Getty Images . The topic of Binance being “banned” in Singapore is one that has upset me greatly as I consider myself a really loyal customer of the platform. The reason for this consideration is notably hinged on the delays the Monetary Authority of Singapore (MAS) is exploring in its bid to consider applications from global trading … Discussion. The past few weeks have seen the exchange come under fire from regulators in the UK, the USA, Japan, and Germany, while earlier this week, British … Binance, one of the world's largest cryptocurrency exchanges, said on Monday that users in Singapore would no longer be allowed buy and trade cryptocurrencies on its main platform, to comply with local regulation. Binance Told It Is “Required To Cease Providing Payment Services” In Singapore. Similarly, earlier this year, Binance “bowed” to pressure from Japan, the UK, and Italy and is already in the moves to set up headquarters in those locations. Singapore bans Binance. The Monetary Authority of Singapore (MAS) this month warned Binance.com that it could be in breach of local laws and should stop providing … Binance launched a feature to skirt Singapore’s ban – and then removed it Sign up for the Daily Newsletter, sent exclusively to our Premium subscribers. 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