• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Breaking News: This Bankrupt Crypto Firm Returns 27,000 Mining Rigs To Pay Off Loan
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Bitcoinist.com
No Result
View All Result
Breaking News: This Bankrupt Crypto Firm Returns 27,000 Mining Rigs To Pay Off Loan
Binance Crypto Exchange Singapore
Advertisement

Crypto Exchange Binance Pulls Out Of Singapore In Response To Regulation

Hououin Kyouma by Hououin Kyouma
1 year ago
in Crypto News
0
Advertisement

The world’s largest crypto exchange, Binance, has announced that its main platform no longer offers Singapore Dollar trading pairs.

Crypto Exchange Binance Takes Measures To Comply With Singapore Regulation

A few days ago, the Monetary Authority of Singapore (MAS) put the crypto exchange’s main website in its investor alert list. This list is for firms that don’t have the proper licenses to provide payment services to the residents of the country.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

In response to the financial regulator’s warning, Binance has announced some changes to its global website. The main platform will no longer offer trading pairs and payment options in Singapore Dollar (SGD) starting 10 September.

The platform has also planned a removal of the official mobile app from the nation’s iOS and Google Play stores on the same date.

Binance has also asked users to complete all related P2P trades and remove advertisements by 9 September to avoid possible disputes.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Related Reading | South Africa Regulator Warns Against Crypto Exchange Binance

It’s worth noting that the crypto exchange’s official Singapore website is still operational. Only the main platform has ceased these services.

Binance’s announcement post reads:

Our aim is to create a sustainable ecosystem around blockchain technology and digital assets. Binance welcomes developments to our industry’s regulatory framework as they pose opportunities for the market players to have greater collaboration with the regulators. We are committed to working constructively in policy-making that seeks to benefit every user.

Singapore isn’t the first country to have disputes related to regulation with the crypto exchange. In fact, the list of nations who have warned the platform is pretty long. Some of the names include the likes of UK, Hong Kong, and Italy.

Related Reading | How Much BTC Would You Get If Every Single Person Got An Equal Share Of Bitcoin?

Earlier Binance announced that the company will take all measures possible in order to comply with the various regulators.

Some of the changes the crypto exchange made include an abolition of the stock tokens and ceasing services in South Korea.

Just last week, Binance also hired Richard Teng as the new CEO for its Singapore-based entity. Teng is the former CEO of the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM). The appointment will aim to help the firm become a global leader in regulatory compliance.

Bitcoin Price

At the time of writing, BTC’s price floats around $52k, up 7% in the last seven days. Over the past month, the crypto has accumulated just under 19% in gains.

The below chart shows the trends in the value of Bitcoin over the past three months:

Bitcoin Price Chart

BTC successfully breaks beyond $50k, and finally gains some ground above the range | Source: BTCUSD on TradingView
Featured image from Unsplash.com, chart from TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Hououin Kyouma

Hououin Kyouma

Loves to write, enthusiastic about cryptocurrency. Currently studying Physics at university.

Related Posts

SingularityNET

Kaboom! SingularityNET (AGIX) Sets Off 127% Blast – What’s Stopping The AI Crypto?

44 mins ago
Shiba Inu

Shiba Inu (SHIB) Keeps Fierce Posturing With 30% Climb In The Last Week

3 hours ago
Shiba Inu

Why The Shiba Inu Community Is Baffled By Binance 6.4 Trillion SHIB Transfer

1 day ago
Indonesia National Crypto Exchange To Launch In June 2023

Indonesia To Launch National Crypto Exchange By June 2023

1 day ago
Layoff Spree Continues: This Crypto-Oriented Firm To Dismiss Some Staff Soon

Layoff Spree Continues: Why This Crypto-Oriented Firm Is Dismissing Some Staff Soon

1 day ago
SEC And CFTC Legal Action Against Mango Markets Hacker Will Boost DeFi, Moody

SEC And CFTC Legal Action Against Mango Markets Hacker Will Boost DeFi, Moody

2 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Crypto Is Here to Stay. Here’s Why You Should Invest...

    6 hours ago
  • Dogecoin (DOGE) and Shiba Inu (SHIB) Bounce While Snowfall...

    6 hours ago
  • Avalanche (AVAX), Gala (GALA), and Orbeon Protocol (ORBN)...

    9 hours ago
  • As Bitcoin And Filecoin Continue To Rise, The Most...

    1 day ago
  • Which Cryptocurrencies You Should Buy – Big Eyes...

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.