Binance to Withdraw Its License Application in Singapore coinspeaker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from coinspeaker.com Daily Mail and Mail on Sunday newspapers.
The Singapore affiliate of Binance, one of the world s largest cryptocurrency exchanges, said on Monday it will withdraw its local licence application and wind down its digital payment token. | December 13, 2021
Binance Asia Services Pte Ltd (幣安亞洲服務), the Singapore affiliate of the world’s largest cryptocurrency exchange, has withdrawn its application to run a bourse in the city-state, ending an effort that started last year to win approval from Singaporean authorities.
The fiat-to-crypto trading platform Binance.sg is to wind down operations and close by Feb. 13, Binance Asia said in an e-mailed statement.
The company was among about 170 firms that applied to the Monetary Authority of Singapore for a permit to provide cryptocurrency services.
The withdrawal from the Singapore process is likely to end speculation that the Southeast Asian city-state would become the