Bitcoin
$62,631.78-2.84%
Ethereum
$3,050.20-3.21%
Binance Coin
$534.84-5.20%
Solana
$131.85-6.54%
XRP
$0.49300042-0.79%
Dogecoin
$0.15282121-1.21%
Toncoin
$6.14-9.32%
Cardano
$0.44905104-3.42%
Shiba Inu
$0.00002236+1.14%
Avalanche
$33.94-6.56%
Tron
$0.11030874-1.49%
Wrapped Bitcoin
$61,072.11-5.39%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Consensus 2024Price Increase Extension Ends In
04
DAYS
02
HR
42
MIN
19
SEC
Finance

Binance Cuts SGD Trading Pairs Following Warning From Singapore Regulators

Last Thursday, Singapore issued an investor alert. This Friday, Binance will end payment options in the local currency.

By Kevin Reynolds
AccessTimeIconSep 5, 2021 at 4:13 p.m. UTC
Updated May 11, 2023 at 5:54 p.m. UTC
Binance CEO Changpeng "CZ" Zhao (CoinDesk archives)

Binance CEO Changpeng "CZ" Zhao (CoinDesk archives)

10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Cryptocurrency exchange Binance is significantly curtailing its exposure to the Singapore crypto market.

Days after the Monetary Authority of Singapore said the company may be in violation of the country’s Payment Services Act, Binance said it is eliminating SGD trading pairs and payment options. It is also removing its app from iOS and Android marketplaces used by Singapore residents.

VolumeMuteUnmute

General Population 'Still Feeling Angst' About Crypto From 2022, Core Scientific CEO Says

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Why Core Scientific is Focused on 2028
    00:57
    Why Core Scientific is Focused on 2028
  • Bitcoin, Ether Rise Amid ETF Steam in Hong Kong; Solana's Latest Update
    02:14
    Bitcoin, Ether Rise Amid ETF Steam in Hong Kong; Solana's Latest Update
  • Bitcoin Whales Yet to Resume Accumulation: IntoTheBlock
    01:06
    Bitcoin Whales Yet to Resume Accumulation: IntoTheBlock

    • The move is effective Friday, Sept. 10 at 04:00 UTC, Binance said.

    This past Thursday, Singapore became the latest country to take regulatory aim at the exchange, issuing an investor alert for Binance’s global website.

    Read more: Singapore Issues Investor Alert for Binance

    The exchange has been in regulators’ crosshairs all around the world in recent months, including in Japan and the U.K.

    Binance, which has been acting with rapidity to address regulator concerns, is currently awaiting the review of its application to operate in Singapore.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Kevin Reynolds
    Kevin Reynolds

    Kevin Reynolds is Editor in Chief at CoinDesk. He owns bitcoin, ether, polygon and solana.

    Follow @KReyofCoinDesk on Twitter

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.