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Crypto exchange to close by February after operator withdraws Singapore licence application

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SINGAPORE: Binance Asia Services, the operator of, has withdrawn its application to the Monetary Authority of Singapore (MAS) to operate a regulated cryptocurrency exchange in the country.The decision was made "taking into account strategic, commercial and developmental considerations globally", Binance said in a news release on Monday (Dec 13).With immediate effect, registrations, cryptocurrency and currency deposits and trading on will be closed, it will wind down operations and close by Feb 13 next year.

Users of the platform must close all open positions and withdraw their Singapore dollar and cryptocurrency assets by that date, it added."We always put our users first, so our decision to close

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