Binance Singapore Probe News: In the wake of the FTX meltdown and global regulatory scrutiny, top crypto exchange Binance is under investigation by the Singapore authorities. According to reports, a financial crime investigation unit of the Singapore Police Force took up the investigation. In recent times, doubts were raised around Singapore’s preferential treatment to Binance in comparison with FTX.
Binance Singapore Rule Breach
Earlier, the Monetary Authority of Singapore clarified about why Binance was placed on its Investor Alert List. The authorities said FTX was not licensed in Singapore and that it operates offshore. Meanwhile, latest reports suggest that Binance is being investigated by the Singapore police in connection with rule breach. As per a Bloomberg report, the Singapore Police Force is looking into Binance’s potential breach of local payment services rules.
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