Cryptocurrency exchange Binance is significantly curtailing its exposure to the Singapore crypto market.
Days after the Monetary Authority of Singapore said the company may be in violation of the country’s Payment Services Act, Binance said it is eliminating SGD trading pairs and payment options. It is also removing its app from iOS and Android marketplaces used by Singapore residents.
Read more: Singapore Issues Investor Alert for Binance
Binance, which has been acting with rapidity to address regulator concerns, is currently awaiting the review of its application to operate in Singapore.
This content is for informational purposes only and should not be construed as investment advice. Nothing mentioned in this article constitutes any type of solicitation, recommendation, offer or endorsement to buy and sell any crypto asset. Trading in any financial market involves risk and can result in loss of funds. Before investing any money, one should always conduct thorough research and seek professional advice.
