{"id":48753,"date":"2021-09-02T13:53:21","date_gmt":"2021-09-02T10:53:21","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=48753"},"modified":"2025-09-02T09:03:01","modified_gmt":"2025-09-02T06:03:01","slug":"singapore-warns-investors-about-binances-unregulated-activity","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/singapore-warns-investors-about-binances-unregulated-activity\/","title":{"rendered":"Singapore warns investors about Binance’s unregulated activity"},"content":{"rendered":"

The Monetary Authority of Singapore (MAS) \u0432\u043a\u043b\u044e\u0447\u0438\u043b\u043e<\/a> the cryptocurrency exchange Binance in the Investor Alert List. The regulator noted that it does not oversee the company’s activities.<\/p>\n

\n

\\”The Investor Alert List includes unregulated entities that, based on MAS information, may be mistaken for companies that have a license or are regulated by a regulator. The list is not exhaustive,\\” the MAS website states.\\<\/p>\n<\/blockquote>\n

The regulator’s list includes the site binance.com, however the Singapore-based portal (binance.sg) is not mentioned.<\/p>\n

The cryptocurrency exchange works<\/a> in the country through Binance Asia Services Pte. Ltd. Currently, this entity is<\/a> on the list of companies exempt from holding a license under the Payment Services Act.<\/p>\n

In a conversation with The Block<\/a>, a company representative noted that Binance Singapore, which owns the binance.sg domain, has submitted to MAS an application for a license and is currently operating \\”under the applicable exemption\\”.<\/p>\n

The company does not provide services through the main Binance portal, and its activities are focused on \\”developing the cryptocurrency ecosystem in Singapore\\”.<\/p>\n

Earlier, Binance appointed the former head of regulation for the Singapore Exchange Richard Teng as head of the local unit<\/a>. The executive has spent more than 13 years at MAS.<\/p>\n

In June, the UK Financial Conduct Authority banned Binance Markets Limited<\/a> from any regulated activity in the country without prior written approval.<\/p>\n

Cayman Islands<\/a> began a review of the exchange’s operations, Thailand<\/a> andHong Kong<\/a> accused the company of unlicensed activity, Japan<\/a> issued another warning against it.<\/p>\n

Polish regulators<\/a> warned consumers about the risks of dealing with the platform, and Italy and Malta<\/a> \u2014 about Binance’s unregulated activities.<\/p>\n

At the end of July, Malaysian Securities Commission<\/a> announced enforcement actions against the trading platform for \\”unlawful management of a digital asset exchange\\”.<\/p>\n

In August, the Dutch central bank stated that Binance has no registration to provide services in the country<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Monetary Authority of Singapore has included the cryptocurrency exchange Binance in the Investor Alert List. The regulator noted that it does not oversee the company’s activities.<\/p>\n","protected":false},"author":1,"featured_media":48754,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,36,946],"class_list":["post-48753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-regulation","tag-singapore"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/48753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=48753"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/48753\/revisions"}],"predecessor-version":[{"id":48755,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/48753\/revisions\/48755"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/48754"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=48753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=48753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=48753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}