Singapore city Singapore innovations Singapore city Singapore

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

Reading now: 400
www.channelnewsasia.com

SINGAPORE: Binance Asia Services, the operator of Binance.sg, has withdrawn its application to the Monetary Authority of Singapore (MAS) to operate a regulated cryptocurrency exchange in the country.The decision was made "taking into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 Binance.sg will be closed, it said.Binance.sg 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

Read more on channelnewsasia.com
The website meaws.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA