Binance Adressed to Singaporean Users

Binance adressed to Singaporean users, the exchange said that Singaporean users will not be able to perform some transactions on the exchange as of October 26.

The Binance exchange, which is under the lens of regulatory agencies in many regions from the UK to the Cayman Islands, from the European Union jurisdiction to Singapore and Australia, imposes restrictions on cryptocurrency transactions for users in Singapore who transact through Binance.com. It was stated in the statement that many transactions, including fiat deposits and instant cryptocurrency exchanges, will not be able to be carried out as of October 26: "As of 04:00 UTC on October 26, 2021, Binance.com users in Singapore will not be able to make fiat deposits, spot cryptocurrency trading, and cryptocurrency purchases through fiat money and liquid swap channels. As the market leader, Binance regularly updates its products and services and adheres to regulations. In this context, we advise our users in Singapore to stop all transactions related to the above issues until the announced day, and withdraw their fiat currencies and tokens." To be remembered, Binance CEO Changpeng Zhao, who made statements to the American media in the past weeks, stated that Binance.com does not serve customers in Singapore and that it is a separate company. Stating that they are currently in the process of obtaining licenses from the necessary institutions in Singapore, CZ said that they do not have any problems with the country. The regulatory agency in Singapore has included Binance.com, the official website of Binance, on the list of unregulated institutions in the country.