MAS demands crypto exchange Binance cease operations

Monetary Authority of Singapore

The Monetary Authority of Singapore has called on crypto exchange Binance to cease operations in Singapore or risk breaking the law, dealing another blow to the crypto trading giant, which is grappling with regulation worldwide.

Binance “may be in break of the Payment Services Act”, a spokesperson for the MAS confirmed to Central Banking on September 7.

The crypto exchange is accused of “carrying on the business of providing payment services to and soliciting such business from Singapore

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