Binance limits SGD product offerings in Singapore amid regulatory warnings
The Monetary Authority of Singapore placed Binance on its investor alert list on Sept.1 over concerns that the crypto exchange may have violated local payments regulations. Global cryptocurrency exchange Binance announced Sunday that it will roll back product offerings in Singapore amid warnings from financial regulators that the company may have violated payments laws. Beginning Sept. 9, Singaporeans will no longer be able to trade cryptocurrencies or receive payments denominated in the Singapore dollar, better known as SGD, according to a Sunday blog post. The Binance mobile app will....
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Singapore Monetary Authority has placed the Binance exchange on its alert list of investors on Wednesday. This is due to some concerns about the possibility that the crypto exchange might have violated the local payments laws. On Sunday, the global crypto exchange has announced its intention to cancel its product offering in the country. This is amidst regulatory warnings from Singaporean Financial Regulators that Binance seems to have violated local payment regulations. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course Binance is a cryptocurrency....
Binance users in Australia have 90 days to close their positions for futures, options and leveraged tokens. Binance, the world’s largest cryptocurrency exchange by trading volume, continues limiting its services amid the ongoing global regulatory scrutiny, announcing new trading restrictions in Australia.Existing Binance users in Australia will have 90 days to reduce and close their positions for products like cryptocurrency futures, options and leveraged tokens, the exchange announced Sept. 20.Effective from Friday, Australian users will no longer be able to increase or open new positions....
The crypto exchange giant has announced further restrictions to its operations in Singapore amid regulatory scrutiny. Binance has announced some changes to its crypto trading services for customers in Singapore.According to a statement on its website published on Monday, Singapore-based users will be geo-fenced from certain account functions on the Binance.com website.Binance users in Singapore will no longer have access to fiat deposits, crypto spot trading, liquid swap and crypto purchases via fiat channels on the website.“We will be restricting Singapore users in respect of the....
Binance's most recent acquisition is still subject to some regulatory requirements. Binance Asia Services, the Singapore arm of major cryptocurrency exchange Binance, has acquired a stake in a local private securities exchange, Hg Exchange (HGX).On Dec. 7, the company officially announced an acquisition of a post-money 18% stake in HGX, a stock exchange licensed and regulated by the Monetary Authority of Singapore.Binance Singapore CEO Richard Teng said that the new investment will help Binance and HGX further expand the scale of products and services “supported by blockchain technology”....
Cryptocurrency exchange Binance is discontinuing certain offerings in Norway. The news comes amid regulatory pressure around the world which the global trading platform is working to address. The company is also dropping Norwegian from its website’s language options. Crypto Exchange Binance Suspends Product and Service Offerings in Norway Binance, the world’s leading digital asset exchange in terms of daily trading volume, has announced it will no longer offer some products and services in the Norwegian market. The changes come into effect “immediately,” the....