![]() ![]() This investment made our own application somewhat redundant. ![]() He tweeted, “ Binance made a sizable investment into regulated exchange HGX last week. On his part, Binance CEO Changpeng Zhao explained the reason his company decided to withdraw crypto services in Singapore. On Monday, Binance.sg announced the big news to its users, saying, “ We are writing to you today to inform you that Binance Asia Services Pte Ltd (BAS) intends to withdraw its licensing efforts in Singapore and wind down its digital payment token (‘DPT’) services in Singapore by 13 February 2022.” While users may continue to buy and sell crypto using their existing assets until 12 January 2022, Binance has advised users to start making plans to withdraw their fiat and cryptocurrencies from the platform as “all accounts must be closed by February 13 2022.” ![]() As a result, there will be no new signups on the platform with immediate effect and existing users will not be able to deposit crypto or fiat on the platform. The decision became firm after Binance reportedly withdrew its application with the Monetary Authority of Singapore (MAS) to operate a digital asset exchange in the country. Binance is shutting down crypto exchange operations in Singapore come 2022. ![]()
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