latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Singapore MAS and Binance Row: The Biggest Cryptocurrency Exchange on ‘Investor Alert list’?

The post Singapore MAS and Binance Row: The Biggest Cryptocurrency Exchange on ‘Investor Alert list’? appeared first on Coinpedia Fintech News

There are several reactions to the collapse of the FTX cryptocurrency exchange, both inside and outside of the crypto sector. One recent example is the investigation into Binance.

A few regulatory authorities have started looking into the FTX collapse. Additionally, some watchdogs have expanded their investigation to include additional cryptocurrency exchanges. 

The biggest cryptocurrency exchange in the world, Binance, is reportedly under investigation in Singapore. The Singapore Police Force’s financial crime investigation unit is in charge of the inquiry.

According to the report, there may have been a violation of the laws governing local payment services. The investigation accelerated once the matter was transferred to the police force’s crime squad, according to the Monetary Authority of Singapore. 

Binance, which had run a Singapore based platform since 2019, closed down in February after withdrawing its license application in December. The company was temporarily excused from the licensing requirements while its application was being reviewed.

Binance on ‘Investor alert’ list

Since Binance is neither governed or authorized to offer any payment services in Singapore, it has appeared on the investor alert list, which alerts customers to this fact. The list also contains organizations that can be mistakenly believed to be subject to MAS regulation.

As reported by CNN, the Monetary Authority of Singapore, said in a statement,

“While both Binance and FTX are not licensed here, there is a clear difference between the two: Binance was actively soliciting users in Singapore while FTX was not. With regard to FTX, there was no evidence that it was soliciting Singapore users specifically.”

“The ongoing turmoil in the crypto industry serves as a reminder of the huge risks of dealing in cryptocurrencies. There is no protection for customers who deal in cryptocurrencies. They can lose all their money,” it added. shares this Contents always with License.

Thank you for Share!



Cool to know huh? Read the full Article

Read the full Article:  ⭲ Singapore MAS and Binance Row: The Biggest Cryptocurrency Exchange on ‘Investor Alert list’?

Search about Crypto News


The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


Today Most Popular News

SneakPeek Script
Setup, Upload and Go!