{"id":50217,"date":"2021-09-27T14:00:39","date_gmt":"2021-09-27T11:00:39","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=50217"},"modified":"2025-09-02T16:51:49","modified_gmt":"2025-09-02T13:51:49","slug":"binance-to-restrict-singaporean-users-from-several-services-starting-oct-26-2021","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binance-to-restrict-singaporean-users-from-several-services-starting-oct-26-2021\/","title":{"rendered":"Binance to restrict Singaporean users from several services starting Oct. 26, 2021"},"content":{"rendered":"<p>From 26 October 2021, the cryptocurrency exchange Binance will restrict Singaporean users&#8217; access to a range of services on its platform.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Changes to Binance Offerings in Singapore<a href=\"https:\/\/t.co\/tNscWF7zxd\">https:\/\/t.co\/tNscWF7zxd<\/a><\/p>\n<p>\u2014 Binance (@binance) <a href=\"https:\/\/twitter.com\/binance\/status\/1442423291575091209?ref_src=twsrc%5Etfw\">September 27, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>This includes fiat deposits, spot trading, and purchases of digital assets through fiat channels and the Liquid Swap service.<\/p>\n<p>Company representatives advised users to complete current trades and withdraw funds \u201cto avoid potential disputes\u201d.<\/p>\n<p>Earlier, the Monetary Authority of Singapore (MAS) <a href=\"https:\/\/u1f987.com\/en\/news\/singapore-warns-investors-about-binances-unregulated-activity\">included Binance in the &#8216;Investor Alert List&#8217;<\/a> (Investor Alert List). The regulator stressed that it does not oversee its activities.<\/p>\n<p>In early September, Binance warned that <a href=\"https:\/\/u1f987.com\/en\/news\/binance-to-ban-singapore-dollar-use-on-its-platform\">it would ban the use of the Singapore dollar<\/a> in platform operations and remove its apps from regional App Store and Google Play.<\/p>\n<p>The head of the company, Changpeng Zhao, urged Singaporean clients to use Binance.sg, which is owned by Binance Singapore. It has filed an application with MAS for a licence and currently operates under the exemption provided by the Payments Services Act.<\/p>\n<p>Over the past few months, financial regulators in several countries, including <a href=\"https:\/\/u1f987.com\/en\/news\/uk-regulator-bans-binance-from-operating-in-the-country\">the United Kingdom<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/dutch-central-bank-says-binance-is-not-registered\">the Netherlands<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/italy-and-malta-warn-consumers-about-unregulated-binance-activity\">Italy<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/polish-regulator-urges-caution-in-using-binance-services\">Poland<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/japanese-regulator-issues-another-warning-to-binance\">Japan<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/thailand-accuses-binance-of-operating-without-a-license\">Thailand<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/hong-kong-regulator-warns-binance-group-entities-are-operating-without-a-licence\">Hong Kong<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/south-africa-regulator-warns-investors-off-binance\">South Africa<\/a> and a number of <a href=\"https:\/\/u1f987.com\/en\/news\/malaysia-announces-enforcement-actions-against-binance\">others<\/a>, issued investor warnings regarding the exchange&#8217;s activities.<\/p>\n<p>Against this backdrop, the company&#8217;s CEO <a href=\"https:\/\/u1f987.com\/en\/news\/changpeng-zhao-outlines-binances-push-to-protect-customers-and-ensure-compliance\">published an open letter<\/a>, in which he outlined plans to ensure regulatory compliance and client protection.<\/p>\n<p>In September Zhao said <a href=\"https:\/\/u1f987.com\/en\/news\/changpeng-zhao-binance-abandons-its-decentralised-business-model\">that Binance would abandon a &#8216;decentralised&#8217; model<\/a> and transform into a licensed enterprise with a centralised business.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From 26 October 2021, Binance will restrict Singaporean users&#8217; access to a range of services on its platform.<\/p>\n","protected":false},"author":1,"featured_media":50218,"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":[744,946],"class_list":["post-50217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-singapore"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50217","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=50217"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50217\/revisions"}],"predecessor-version":[{"id":50219,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50217\/revisions\/50219"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/50218"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=50217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=50217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=50217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}