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    Home » Binance to Stop Offering Singapore Products Following Regulator Notice
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    Binance to Stop Offering Singapore Products Following Regulator Notice

    September 6, 20211 Min Read
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    Concept of Binance coin moving fast on the road, a Cryptocurrency blockchain platform , Digital money
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    Cryptocurrency exchange giant Binance will stop offering several products in Singapore this week, just days after the central bank flagged possible violations.

    • Binance said it will no longer offer SGD trading pairs and SGD payment options and remove its application from the Singapore iOS and Google Play stores starting 4 a.m. on Friday, September 10.
    • The exchange urged Singaporean users to complete all related trades and remove trade advertisements by 4 a.m. on Thursday, September 9, to avoid possible trading disputes moving forward.
    • The announcement comes days after the Monetary Authority of Singapore ordered the firm to stop providing payment services to Singapore residents pending the necessary licenses to operate in the country.
    • Binance said it is open to working together with regulators on policies that will be able to benefit the public, as it seeks to develop a “sustainable ecosystem” built around blockchains and digital assets.

    Binance also warned users to make trades cautiously, citing high market risk in cryptocurrencies. 

    BTC is up 2.60%, ETH down 0.59%, and XRP up 6.37%.

    Source: Binance

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