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.
Binance has been under scrutiny in several markets, such as the United States and Japan, in recent months.PHOTO: REUTERS

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.

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