Binance customers in Singapore will no longer be able to access a number of services on Binance.com as of October 26, 2021, per a statement made by the exchange today.
These services include fiat deposit services, spot trading of cryptocurrencies, and the purchase of cryptocurrencies through fiat channels and liquid swaps.
“We will be restricting Singapore users in respect of the Regulated Payments Services in-line with our commitment to compliance,” Binance said in the statement. The Binance Team also advised Singapore users to cease all related trades, withdraw fiat assets and redeem tokens on October 26 by 04:00am UTC to “avoid potential trading disputes.”
The announcement comes amidst regulatory controversy for the exchange in Singapore.
Binance’s Singapore struggles
the crypto exchange has suffered a string of regulatory controversies in recent months, including in Singapore.
In August, Singapore’s financial services regulator—the Monetary Authority of Sin
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