The Monetary Authority of Singapore (MAS) включило the cryptocurrency exchange Binance in the Investor Alert List. The regulator noted that it does not oversee the company’s activities.
\”The Investor Alert List includes unregulated entities that, based on MAS information, may be mistaken for companies that have a license or are regulated by a regulator. The list is not exhaustive,\” the MAS website states.\
The regulator’s list includes the site binance.com, however the Singapore-based portal (binance.sg) is not mentioned.
The cryptocurrency exchange works in the country through Binance Asia Services Pte. Ltd. Currently, this entity is on the list of companies exempt from holding a license under the Payment Services Act.
In a conversation with The Block, a company representative noted that Binance Singapore, which owns the binance.sg domain, has submitted to MAS an application for a license and is currently operating \”under the applicable exemption\”.
The company does not provide services through the main Binance portal, and its activities are focused on \”developing the cryptocurrency ecosystem in Singapore\”.
Earlier, Binance appointed the former head of regulation for the Singapore Exchange Richard Teng as head of the local unit. The executive has spent more than 13 years at MAS.
In June, the UK Financial Conduct Authority banned Binance Markets Limited from any regulated activity in the country without prior written approval.
Cayman Islands began a review of the exchange’s operations, Thailand andHong Kong accused the company of unlicensed activity, Japan issued another warning against it.
Polish regulators warned consumers about the risks of dealing with the platform, and Italy and Malta — about Binance’s unregulated activities.
At the end of July, Malaysian Securities Commission announced enforcement actions against the trading platform for \”unlawful management of a digital asset exchange\”.