Binance exchange announced to halt their operations for Singapore citizens.
Recently, Singapore’s regulators listed Binance in the Investors warning list and said that Binance doesn’t have any kind of approval from any regulatory body of South Africa. No Binance exchange is responding through their actions to what regulators want.
Today, on 5 September, Binance published a blog and clearly said that they will halt their services from Singapore.
As per announcement they will delist SGP trading pairs for all kind of trading. And also they will stop the SGP payment option.
Binance will remove their app availability from the region of Singapore from all kind of app stores
•SGD trading pairs
•SGD payment options
•Removal of the App from Singapore iOs and Google Play stores
Binance warned their users to complete/remove all trading pairs of SGD by Thursday to remain away from any kind of trading problem. And they will terminate SGD trade options from Friday at 12:00 PM UTC+8.
And also they clearly said that they are not operating any kind of medium or platform to communicate with Singapore’s crypto investors.
The reason behind this termination of their services they gave and said they want to comply with the regulators is why they are doing so.