Binance Restricts Services to Singapore Clients Due to ... Xfers rebranded as StraitsX - Binance Singapore , Singapore. Binance to halt crypto trading and payments in Singapore ... Binance bans users in Singapore from trading crypto as the ... Binance. Binance has been scrutinized by regulators in countries including Japan, the UK, Canada, Singapore, and South Africa. Singapore's financial regulator, the Monetary Authority of Singapore (MAS), said that Binance may be in breach of the payment services act for providing payment services to, and soliciting business from local residents, without an appropriate license, reported Bloomberg. We are looking for a Business Development Manager to join the team and help with our expansion. BINANCE Singapore on Monday announced MAS and SGX veteran Richard Teng as its new chief executive, nearly a week after Bloomberg reported that Binance Holdings was said to be in discussions with . new. 27 September 2021 13:46 GMT+2 / Arnab Shome November 2, 2021 NEWS. As of October 26, Binance users in Singapore will no longer be able to access certain functions on Binance.com. Binance has been on the lookout for a physical headquarters, and the location of the CEO's home may offer hints as to where the office may be. Binance said users in Singapore will no longer be permitted to buy and sell crypto from its main platform beginning October 26. The Monetary Authority of Singapore (MAS) this month warned Binance.com that it could be in breach of local laws and should stop providing payment services to the city-state's residents. The popular cryptocurrency Cardano (ADA) achieved significant success, climbing 10% in a day. The Monetary Authority of Singapore (MAS) this month warned Binance.com that it could be in breach of local laws and should stop providing payment services to the city-state's residents. Furthermore, the exchange also appealed to its Singapore users to withdraw their tokens and cease their trades by the effective date. Last month, in lieu of regulatory pressure, Binance announced the suspension of spot trading, fiat purchase channels, liquid swap, and fiat deposit functions in Singapore, effective from 26th October. September 27, 2021 2:58 pm. Fiat deposit services; Spot trading of cryptocurrencies Klaytn is the blockchain mainnet of Ground X, which is a subsidiary of South Korea's mobile platform, Kakao. Binance confirmed to the media outlet, however, that Binance Asia Services is "a separate legal entity and does not offer any products or services via the Binance.com website or Binance Markets." Instead, the Singapore-based company, Binance stated, "focuses on growing the local blockchain ecosystem and servicing users" in Singapore. Singapore, Singapore, Oct. 29, 2021 (GLOBE NEWSWIRE) -- Attention CyBallers. Singapore has joined the growing list of jurisdictions in which Binance is halting its services following regulatory scrutiny. The service change for users in Singapore will take effect on October 26, 2021. Binance.com to Stop Offering Crypto Trading Services in Singapore The exchange urged Singapore users to close trades and withdraw fiat deposits by October 26. Follow. From Oct . Binance NFT x CyBall x GuildFi Historic Announcement: A World's First Triple IGO (Initial Game . SINGAPORE, Oct. 21, 2021 /PRNewswire/ -- MCDEX, the decentralized derivatives exchange has secured an investment under the recently launched $1 billion Growth Fund set up by Binance Smart Chain (BSC) the leading DeFi, NFT and GameFi infra platform to enhance the development of the platform integrated with the BSC ecosystem.. MCDEX is the first decentralised perpetual swap that is live on the . 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, the world's largest crypto exchange, is about to introduce severe restrictions on its offering to users in Singapore. Please reach out to us via here if you would require any support. Binance said users in Singapore will no longer be permitted to buy and sell crypto from its main platform beginning October 26. The Monetary Authority of Singapore (MAS) said earlier this month the country's central bank found Binance to be in breach of local laws, adding to a . The move comes after the crypto exchange already stopped providing SGD trading pair services, and removed the mobile app from the country's stores. . The suspension would come into effect from 26th October. Binance further expands restrictions to SG users. Note on use of Binance for Singapore Crypto Investors. Binance previously announced on 5th September 2021 that it will cease the following services on its app to comply with local regulations. Klaytn will be one of those networks in Q4. 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 … It think we can all agree that Bitcoin is too expensive to jump into for most, so what are some alternative coins and tokens to wa. The largest cryptocurrency exchange in the world, Binance, made plans to use its U.S. presence to deflect regulators and profit from American investors in spite of regulatory restrictions. Crypto Crypto News. As of Oct. 26, users will not be able to access fiat deposit . The fiat-to-crypto exchange in Singapore supports 7 cryptocurrencies that include BTC, ETH, BNB, LTC, BCH, XRP, NEO and LINK. Now, Binance has asked its Singapore users to withdraw fiat assets and redeem tokens by Wednesday, 26 October, 04:00 AM UTC to avoid potential trading disputes. Binance has announced the discontinuation of multiple crypto services for Singapore users. The Binance show rolls on, this week bringing a sudden stop to its service in Norway, a potentially huge class action claim by disgruntled whale traders… and they could potentially be looking for investment from Singapore's sovereign wealth fund.. As of Oct. 26, users will not be able to access fiat deposit . These services include fiat deposits, spot trading of cryptocurrencies, and the . 450k members in the singapore community. A couple of weeks ago, Binance International (Binance.com) made the headlines in Singapore because it was ordered by the Monetary Authority of Singapore (MAS) to cease providing payment services in Singapore. Binance, one of the world's largest cryptocurrency exchanges, said on Monday that users in Singapore would no longer be allowed to buy and trade cryptocurrencies on its main platform, to comply with local regulations. I have an NFT remaining on it. Responsibilities Build. Despite its stalled rally, Bitcoin looks "fantastic", with US$60,000 forming a new base of support, an Aussie technical analyst says. 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 […] Binance Ceases Singapore Offerings Following MAS' Investor Alert. Binance trading platform is allegedly considering the options of pulling its applications for a license to operate in Singapore, according to the Singapore run arm of the BusinessTimes. From late October, users in Singapore will no longer be able to deposit fiat currencies or buy or spot-trade cryptocurrencies on the platform. The announcement from Binance follows a warning from the Monetary Authority of Singapore (MAS), telling the platform that it could be in breach of local laws. But for those who just want the major coins and cheap commissions, Binance.sg would be good enough. Singapore's regulator last month became the latest from a major financial centre to target Binance, warning it could be in breach of local laws and should stop providing payment services to the . The exchange in its official press release said, "As […] SINGAPORE, Nov. 26, 2021 /PRNewswire/ -- Binance Smart Chain, the leading Defi, NFT and Infra platform, has completed the first community-voting mechanism pilot for its Most Valuable Builder . In the next few weeks, Binance's U.S. entity will close pre-IPO funding of "a couple hundred million", Zhao added. Cryptocurrency News: The Binance exchange has ceased offering trading pairs and payment options in Singapore dollars in order to be compliant with the country's monetary r. A week after, DBS Vickers and The Independent Reserve, both crypto exchanges in their own right, were granted licenses by MAS. This role will be based in Singapore. Binance. Binance Labs said its investment would help expand the gaming sector on its BSC network. Binance has said users in Singapore will no longer be able to deposit fiat currencies, perform spot-trades or purchase any cryptocurrencies on its global platform, Binance.com, starting October 26.. Its app was also removed from local iOS and Google Play stores. Welcome to /r/singapore: the reddit home of the country Singapore. PHOTO: REUTERS. Binance to halt Singapore products after MAS warning. Binance, the world's largest cryptocurrency exchange by volume, is restricting some of its services for clients in Singapore, to comply with local regulations. Previously, on Sept 2, Binance has already ceased P2P related services and . I have a Binance account but have moved most of my cryptos out. Reported earnings were $3.8 billion, down 26% compared with the fourth . As part of this rebranding, Xfers Personal Accounts have been renamed StraitsX Personal Accounts. The development comes after Binance made further changes to comply with the Monetary Authority of Singapore [MAS], by ceasing all related trades. In the future, Binance customers in Singapore will lose access to spot trading in cryptocurrencies. Crypto-exchange Binance also tried its luck in Singapore but, in the end, had to stop offering services to users in the country because of local regulations. Binance's Singapore unit, operated by Binance Asia Services (BAS), is currently exempted from holding a licence for the provision of digital payment token services under the transitional arrangements in the PS Act. Land ho! According to an announcement today, from October 26 Singaporean Binance users will no longer be able to access several options on the exchange, including: fiat deposits, crypto spot trading and purchasing crypto . The exchange also requested Singapore users to withdraw their tokens and cease their trades by the effective date. The Monetary Authority of Singapore (MAS) this month warned Binance.com that it could be in breach of local laws and should stop providing payment services to the city-state's residents.

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