Binance is terminating some services in Singapore, including fiat deposit services and spot trading of cryptocurrencies, to comply with the country’s regulations. The exchange has already ceased trading in Singapore dollars.
Binance Scaling Down Services in Singapore
Cryptocurrency exchange Binance announced Monday some changes to its offerings in Singapore. The company wrote:
With effect from 2021-10-26 04:00 AM UTC (12:00 PM UTC+8), users in Singapore will not be able to access certain functions on Binance.com including fiat deposit services, spot trading of cryptocurrencies, the purchase of cryptocurrencies through fiat channels and liquid swap (‘Regulated Payments Services’).
The announcement adds that “Users in Singapore are advised to cease all related trades, withdraw fiat assets and redeem tokens” by the deadline “to avoid potential trading disputes.”
Binance Singapore has been undergoing changes since the Monetary Authority of Singapore (MAS), the country’s
