MAS aware of actions taken against crypto exchange Binance, will follow up as appropriate

Binance has been under scrutiny in several markets, such as the United States and Japan, in recent months. PHOTO: REUTERS
New: Gift this subscriber-only story to your friends and family

SINGAPORE - Singapore's central bank is aware of the actions taken by other regulatory authorities against cryptocurrency exchange Binance and will follow up as appropriate.

In response to queries from The Straits Times, the Monetary Authority of Singapore (MAS) noted that Binance's Singapore arm Binance Asia Services is exempted from holding a licence under the Payment Services Act for the provision of digital payment token services, as its licence application is being reviewed.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.