Binance announced it has removed some of its service offerings in Singapore amid a regulatory crackdown.
The world's largest crypto exchange by trading volumes, Binance, said it would stop support for trading pairs in the Singapore dollar (SGD) on September 10. In short, Binance exchange will remove SGD payment options from the website.
According to the news, the exchange will also delete its app from Google Play and App Store in Singapore. The Monetary Authority of Singapore (MAS) placed Binance.com on the Singapore central bank’s Investor Alert List. Certainly, this event caught the attention of Binance and shocked it's a community in the country.
However, the crypto community is curious whether the firm removal of its support in the country would be enough to satisfy the regulator.
Recently, Binance is under pressure around the world about regulations. Hence, Binance stated it no longer provides some products and services in the Norwegian market.
Moreover, the crypto exchange announced that it suspended its services in Norway. Also, the company is stopping Norwegian from its website’s language options.