Crypto Giant Binance To Shutter Singapore Platform – Law360

crypto-giant-binance-to-shutter-singapore-platform-–-law360

By Elise Hansen (December 13, 2021, 8:50 PM EST) — Binance’s Asia affiliate is withdrawing from the licensing process in Singapore and will be shuttering its platform in the city-state, the company said Monday.

Binance Asia Services Pte. Ltd. said it would wind down its digital payment token services by Feb. 13. Effective immediately, no new user registrations will be accepted on Binance.sg and the platform will not accept new deposits of cryptocurrency or fiat currency, the announcement said. Existing users will be barred from using their assets to buy and sell in mid-January, and users should begin planning to close their positions now before all accounts are closed in mid-February,…

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