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Binance is a cryptocurrency exchange that was founded in 2017 by Changpeng Zhao, a developer turned billionaire. He made his riches from creating Bina
Binance Asia Services Ltd., which recently withdrew an application to offer cryptocurrency services in Singapore, didn’t meet the central bank’s criteria for safeguarding against money laundering and terrorism financing, a person with knowledge of the matter said.
Ending an effort that started last year to win approval from Singapore’s authorities.
Binance Asia Services Pte Ltd (幣安亞洲服務), the Singapore affiliate of the world’s largest cryptocurrency exchange, has withdrawn its application to run a bourse in the city-state, ending an effort that started last year to win approval from Singaporean authorities. The fiat-to-crypto trading platform Binance.sg is to wind down operations and close by Feb. 13, Binance Asia said in an e-mailed statement. The company was among about 170 firms that applied to the Monetary Authority of Singapore for a permit to provide cryptocurrency services. The withdrawal from the Singapore process i...
Binance Asia Services to withdraw licence application and wind down its digital payment token business amid regulatory scrutiny