MAS aware of regulatory actions against Binance

It will follow up as appropriate; licence application of crypto exchange's Singapore arm being reviewed

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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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A version of this article appeared in the print edition of The Straits Times on July 02, 2021, with the headline MAS aware of regulatory actions against Binance. Subscribe