InstaForex

September 3, 2021

Watch out! Binance.Com Now In The 'Grip' Of The Central Bank Of Singapore!

 Binance did not escape the scrutiny of the authorities when its website - Binance.com was reportedly listed on the Monetary Authority of Singapore (MAS) investor alert list.


Based on that list, Binance.com began being listed yesterday, including several other lists of unregistered entities that have long been listed.


The sudden news shocked the crypto community in the country, a week after Binance appointed the former chief legal officer of the Singapore Stock Exchange and former MAS corporate finance director as CEO of Binance Singapore.


However, Binance.sg is not listed on MAS's investor alert list.



A Binance.sg spokesperson explained that the two entities are different exchanges and they have never offered any products or services through Binance.com:


“Binance.sg operates with its own organization, has local executives and a management team. It is backed by Vertex Venture Holdings, focusing exclusively on the cryptocurrency ecosystem and providing services to its users in Singapore. ”


Binance.sg still survives as it operates through Binance Asia Services Pte. Ltd.


More convincingly to investors, it was also granted an exemption from having a license under the Payment Services Act for a certain period following the entity's licensing application still under consideration by MAS.