Binance Singapore drops application for local crypto bourse


Binance CEO Changpeng Zhao, who’s been based in Singapore for the past two years, has offered mixed signals on where he may base the firm, saying places in Europe and the Middle East offered pro-crypto alternatives. —AP Photo

Binance Asia Services Ltd., the Singapore entity of Changpeng Zhao, has withdrawn its application for a license to run a cryptocurrency exchange, the company said.

With that, Binance ends an effort to operate a regulated cryptocurrency bourse under the oversight of the Monetary Authority of Singapore. The fiat-to-crypto trading platform Binance.sg will wind down operations and close by Feb 13, the affiliate of the world’s largest crypto bourse said in an emailed statement.

Get 30% off with our ads free Premium Plan!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Tech News

India's push for home-grown satellite constellation gets 30 aspirants
Google Search has a surprise in store for 'Squid Game' fans
Blogs to Bluesky: social media shifts responses after 2004 tsunami
Singapore pulls ahead of Hong Kong in race to be crypto hub
Telegram profitable for first time after app pays down debts
AI in finance is a promising but perfectible technology
Trump's TikTok love raises stakes in battle over app's fate
AI will eavesdrop on world's wildest places to track and help protect endangered wildlife
The Internet is rife with fake reviews. Will AI make it worse?
Secretive game developer codes hit 'Balatro' in Canadian prairie province

Others Also Read