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. BAS runs crypto exchange Binance.sg, which is a separate legal entity from Binance.com. Follow. Binance to Ban Singapore Users from Accessing its 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. Binance said users in Singapore will no longer be permitted to buy and sell crypto from its main platform beginning October 26. Binance has announced the discontinuation of multiple crypto services for Singapore users. Binance.com - the world largest cryptocurrency exchange by volume - announced on 27 September 2021 that users in Singapore would not longer be able to access certain functions on Binance.com. Binance Labs said its investment would help expand the gaming sector on its BSC network. Binance jobs - October 2021 | jobsDB 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. Sun, Sep 05, 2021 - 9:27 PM. 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. The move is aimed at bringing the world's largest crypto exchange into line with the regulatory standards of the Monetary Authority of Singapore. Cardano (ADA) has overtaken Binance Coin (BNB) by Best Crypto Signals! 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, the world's largest cryptocurrency exchange by volume, is restricting some of its services for clients in Singapore, to comply with local regulations. On 2 September 2021, the Monetary Authority of Singapore (MAS) placed Binance.com (Binance) on the Investor Alert List.This has garnered the attention of investors as Binance is currently the largest cryptocurrency exchange in the world with a 24-hour trading volume of US$29 billion, more than 5 times that of Coinbase, the second-largest crypto exchange. Sadly, it looks like Binance.com's time in Singapore is up as the suspension of the key functions means that most users based in Singapore will have limited use for . 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. If you are from Singapore and are interested in buying or trading cryptocurrency, then you would be familiar with Binance, or at least heard of it.It is a cryptocurrency exchange and trading platform founded by Changpeng Zhao, a Canadian-born Chinese, and its headquarter is located in the Cayman Islands. SINGAPORE (BLOOMBERG) - Crypto exchange Binance has published a list of "fundamental rights" amid increasing regulatory pressure, arguing everyone should have access to financial tools like crypto.. by Fintechnews Singapore September 6, 2021. November 2, 2021 NEWS. Binance has been scrutinized by regulators in countries including Japan, the UK, Canada, Singapore, and South Africa. Cardano climbed to third place on the SafeTrading rankings, overtaking Binance Coin with a market cap of $ 82 billion by best crypto signals. Following up fro m our message on September 10, 2021, we would like to remind you that from 26 October 2021 at 12pm SGT existing Singapore-based users of Binance.com (i.e. 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 . Its app was also removed from local iOS and Google Play stores. Binance has advised all traders to complete their trades in a timely manner and withdraw their assets as soon as possible. Binance said users in Singapore will no longer be permitted to buy and sell crypto from its main platform beginning October 26. "Look, you can't go up in a vertical line with a rocket underneath it forever," Think Markets analyst Carl Capolingua told Ausbiz TV this morning. The logo of Binance is seen on their exhibition stand at the Delta Summit, Malta's official Blockchain and Digital Innovation event promoting cryptocurrency, in St Julian's, Malta October 4, 2018. 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 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 . SINGAPORE--(BUSINESS WIRE)--Justin Sun, once promised to go all-in on GameFi, is now back in the limelight with WIN NFT HORSE.On October 31, WIN NFT HORSE announced on Twitter that they would . These services include fiat deposits, spot trading of cryptocurrencies, According to the announcement from Binance, the restrictions are being imposed for compliance reasons. Klaytn will be one of those networks in Q4. Singapore has joined the growing list of jurisdictions in which Binance is halting its services following regulatory scrutiny. Binance NFT x CyBall x GuildFi Historic Announcement: A World's First Triple IGO (Initial Game . 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 change in offerings for Singapore users will go in effect from 26 October 2021. We are looking for a Business Development Manager to join the team and help with our expansion. Binance.com, the global cryptocurrency exchange platfrom announced the suspension of spot trading, fiat purchase channels, liquid swap, and fiat deposit functions. Binance, the world's largest cryptocurrency exchange platform, has responded to a warning by Singapore's regulator by entirely halting its trading and payment services in the city-state. Binance, the world's largest crypto exchange, is about to introduce severe restrictions on its offering to users in Singapore. Binance. 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. 27 September 2021 13:46 GMT+2 / Arnab Shome 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 platforms. 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. 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 . From October 26, users in Singapore will no longer be able to deposit fiat currencies, or buy or spot-trade cryptocurrencies on the platform, Monday's statement said a significant tightening of restrictions announced shortly after the MAS's statement. 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. The new restrictions will take place from 26 October 2021. 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 . Responsibilities Build. "I mean, it's just doing what normal, mature assets do — you know, assets that are part of a real . The crypto giant said the latest move is intended to bring its services "in-line with its commitment to compliance." It advised users in the city-state to cease all related trades, withdraw . 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 . The suspension would come into effect from 26th October. Deposits with fiat money will also no longer be possible. 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. akub Porzycki/NurPhoto via Getty Images. The latest reports paint a picture of an extremely wealthy company (and founders), one that is facing very different situations in the various . Reported earnings were $3.8 billion, down 26% compared with the fourth . Thus far, as many as 30 have withdrawn their . I have an NFT remaining on it. A week after, DBS Vickers and The Independent Reserve, both crypto exchanges in their own right, were granted licenses by MAS. users registered before 10 September 2021) will no longer be able to access the following products and offerings: The news follows a string of regulatory controversies in Singapore and around the world. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering . On September 2, the exchange has been listed on the Investor Alert List . The exchange also requested Singapore users to withdraw their tokens and cease their trades by the effective date. Binance restricts services in Singapore The Binance global crypto exchange's wind-back of services has moved to another country. 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 … 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 … Following MAS' order, Binance stopped allowing payments to be made in Singapore dollars and removed its P2P (peer-to-peer) trading options for Singapore users on Sept 10. 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. 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. The exchange also requested Singapore users to withdraw their tokens and cease their trades by the effective date. As part of this rebranding, Xfers Personal Accounts have been renamed StraitsX Personal Accounts. Please reach out to us via here if you would require any support. Note on use of Binance for Singapore Crypto Investors. American cryptocurrency trading platform, Coinbase and Binance exchange, two of the world's largest digital currency brokerages are notably amongst the few platforms awaiting license approval from the Monetary Authority of Singapore (MAS).According to Bloomberg TV, the MAS has about 170 applications listed on its website as of last year. September 27, 2021 2:58 pm. Binance also operates a separate local platform, which has applied for a licence in Singapore. Earlier this month, Binance.com ceased Singapore dollar trading pairs and payment options in the city-state. 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. From October 26, Binance users in Singapore will no longer be able to deposit fiat currencies, or buy or spot-trade . But for those who just want the major coins and cheap commissions, Binance.sg would be good enough. The fiat-to-crypto exchange in Singapore supports 7 cryptocurrencies that include BTC, ETH, BNB, LTC, BCH, XRP, NEO and LINK. As of Oct. 26, users will not be able to access fiat deposit . There is a huge potential for stability owing to the functionalities of the Ethereum blockchain. With SHIB hitting all new highs (turning my initial $100 investment to $1500 and counting) I was thinking, what are some altcoins to keep an eye on for future growth? As of October 26, Binance users in Singapore will no longer be able to access certain functions on Binance.com. As of Oct. 26, users will not be able to access fiat deposit . Fleta currently supports Ethereum, TomoChain, Binance Smart Chain, and Polygon. 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. Binance has advised all traders to complete their trades in time and withdraw their assets as soon as possible. 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:. From Oct . 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.. new. Binance trading system is supposedly taking into consideration the choices of drawing its applications for a certificate to run in Singapore, according to the Binance to Withdraw its Singapore Operating License Application. Today, it also announced further suspension of the following services. According to a November press release, the Huobi group claimed that the Gibraltar Financial Services Commission (GFSC) approved its move to shift operations to the British . Singapore, Singapore, Oct. 29, 2021 (GLOBE NEWSWIRE) -- Attention CyBallers. 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. Binance said it would be ceasing Singapore dollar trading pairs and payment options, as well as removing the app from Singapore iOs and Google Play stores as of Friday. The move comes after the crypto exchange stops offering SGD trading pairs and removes the mobile app from stores in the country. SINGAPORE USERS TO WITHDRAW ASSETS BY 26 OCTOBER'21. 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. It has an office in Singapore and is exempted from the Payments Services Act by (MAS). Crypto Crypto News. UPDATED Mon, Sep 06, 2021 - 9:39 AM. Despite its stalled rally, Bitcoin looks "fantastic", with US$60,000 forming a new base of support, an Aussie technical analyst says. Land ho! 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. In the next few weeks, Binance's U.S. entity will close pre-IPO funding of "a couple hundred million", Zhao added. Brace for impact! 13 days ago. 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. promo. Singaporean crypto exchange platform Binance announced in a blog post that it will cease to offer certain product and service offerings several days after the Monetary Authority of Singapore added the company to its investor alert list. 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. Fiat deposit services; Spot trading of 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. At 5.37pm today (27 September 2021), Binance.com made the announcement that it will suspend key offerings for its Singapore users from 26 October 2021, 12pm Singapore time. Binance previously announced on 5th September 2021 that it will cease the following services on its app to comply with local regulations. The service change for users in Singapore will take effect on October 26, 2021. Furthermore, the exchange also appealed to its Singapore users to withdraw their tokens and cease their trades by the effective date. The development comes after Binance made further changes to comply with the Monetary Authority of Singapore [MAS], by ceasing all related trades. I have a Binance account but have moved most of my cryptos out. Binance US to close hundreds of millions' worth of pre-IPO funding. The Singapore regulator's warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn't have a global headquarters. Binance customers in Singapore will no longer be able to access a number of services on Binance.com as of October 26, 2021, per a statement made by the exchange today. 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. 73 votes, 75 comments. 450k members in the singapore community. Dear Binance.sg Community, We are informed that Xfers has been rebranded as StraitsX. The suspension would come into effect from 26th October. Binance Coin. No further action from all users would be required. 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 Ceases Singapore Offerings Following MAS' Investor Alert. It launched the BSC network for decentralized, peer-to-peer applications in October last year. Binance Coin is predicted to show growth potential in October 2021 with a maximum cryptocurrency price of US$482 and a minimum of US$324 with respect to the current price of US$385 on the first day of October. The popular cryptocurrency Cardano (ADA) achieved significant success, climbing 10% in a day. These services include fiat deposits, spot trading of cryptocurrencies, and the . Binance announced on Monday that it would withdraw the ability to purchase or trade any cryptocurrencies on its global platform for Singaporean citizens as of 26 October. In the future, Binance customers in Singapore will lose access to spot trading in cryptocurrencies. This is a follow up video for those looking to convert SLP to SGD.If you haven't watch How to convert SLP to USDT first: https://youtu.be/BhDB3pT2aZI=====. They operate Klaytn-based services like KLAYSwap, a DeFi service, and cryptocurrency wallet, Klip, building a . . Binance announced Monday that users of its main platform in Singapore will no longer be permitted to buy and sell cryptocurrencies beginning October 26, amid the country's tightening clampdown . Skip to the content . Recent update on the Binance website, starting from Wednesday, 2021-10-26 04:00 AM UTC (12:00 PM UTC+8) Singapore users will no longer be able to access the main . TD Bank Group ("TD" or the "Bank") today announced its financial results for the fourth quarter ended October 31, 2021. Binance, the world's largest crypto exchange, is about to introduce severe restrictions on its offering to users in Singapore. Binance to halt Singapore products after MAS warning. In October 2020, . Welcome to /r/singapore: the reddit home of the country Singapore. This role will be based in Singapore. Binance.com, the global cryptocurrency exchange platfrom announced the suspension of spot trading, fiat purchase channels, liquid swap, and fiat deposit functions. 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 . , Singapore. From late October, users in Singapore will no longer be able to deposit fiat currencies or buy or spot-trade cryptocurrencies on the platform. This includes fiat deposit services, spot trading of crypto . Klaytn is the blockchain mainnet of Ground X, which is a subsidiary of South Korea's mobile platform, Kakao. Binance further expands restrictions to SG users. HONG KONG: Binance, one of the world's largest cryptocurrency exchanges, said on Monday (Sep 27) that users in Singapore would no longer be allowed buy and trade cryptocurrencies on its main . BAS runs crypto exchange Binance.sg, which is a separate legal entity from Binance.com. Previously, on Sept 2, Binance has already ceased P2P related services and . 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.. Binance. PHOTO: REUTERS. 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 ability to buy cryptocurrencies… 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. Binance Singapore allows individuals residing in Singapore to invest in digital currencies using Singapore Dollars (SGD) as a deposit.
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