Binance Sg Mas Regulated | Singapore Tells Binance To Halt Service In Latest Crypto Hit Bloomberg

Silvia Barber

6 Sept, 2021

The Monetary Authority of Singapore MAS the countrys financial regulator has added Binance to its investor alert list. The easiest way to buy Bitcoin cryptocurrency in Singapore instantly with Binancesg - Set up and verify your account today.

Mjxsqesigtqxlm

Must stop offering services regulated in Singapore after a potential breach of local payment rules adding to a mounting list of jurisdictions scrutinizing the worlds.

Binance sg mas regulated. CEO and Co-founder of Binance Changpeng Zhao said We have already applied. On Thursday Singapores watchdog warned consumers that the international crypto exchange is no longer licensed or regulated to offer or solicit digital payment services. In other words MAS placed Binance on an investor.

While Binance has continued to accelerate its compliance efforts its regulatory woes just keep mounting. The company has since been placed on MAS Investor Alert List to warn consumers in Singapore that Binance is not regulated or licensed in Singapore to provide any payment services. Binance is ready to comply with the MAS regulations as it lost no time in applying for the Payment Service Act license.

The list flags companies that are not licensed by the MAS but may have given investors the impression that they were sanctioned by the Singapore regulator. While Binance has continued to accelerate its compliance efforts its regulatory woes just keep mounting. The exchange platform was placed on the central banks Investor Alert List on 2 September.

Binance received yesterday September 2 an order from the Monetary Authority of Singapore MAS to stop providing payment services to Singapore residents. The Monetary Authority of Singapore MAS is in the news today after it put the cryptocurrency exchange on its regulatory radar. The list warns investors of companies or firms that may have been wrongly perceived as being licensed or regulated by MAS.

This is similar to a warning issued by the UKs Financial Conduct Authority. The list contains companies. The Monetary Authority of Singapore MAS is in the news today after it put the cryptocurrency exchange on its regulatory radar.

The worlds number one by volume. Although Binancesg has been granted an exemption from holding a licence under the PS Act Binancesg in its current state cannot be considered as a MAS regulated entity just yet. Singapore regulators on Thursday added the worlds largest crypto exchange Binance to its Investor Alert List.

The list includes unregulated entities that may have been wrongly perceived as being licensed or regulated by the Monetary Authority of Singapore MAS. But on balance Binancesg did appoint the ex MAS director of corporate finance Richard Teng as the companys new chief executive in August 2021. Binance is required to cease providing payment services which are regulated under the Payment Services Act to Singapore residents and cease soliciting such.

The exchange platform was. Binance Holdings Ltd. The list includes unregulated entities that may have been wrongly perceived as being licensed or regulated by the Monetary Authority of Singapore MAS.

2 days agoMAS is the latest major regulator to float Binance financial misconducts on the news again and for the wrong reasons. From now on cryptocurrency businesses operating in Singapore will need to register and be licensed to continue operating in the country.

Qfudmtonvyyvym