Singapore Tells Binance to Halt Service in Latest Crypto Hit

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Singapore Tells Binance to Halt Service in Latest Crypto Hit

Bloomberg2021-09-03

(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...

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Ghuna
·2021-09-03
Regulations. Afraid it might open flood gates
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1
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- GuSen:
  Cryto Alert!!!
  2021-09-03
  Reply
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Cheryi
·2021-09-03
Follow
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2
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- JesseC:
  nice
  2021-09-08
  Reply
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Keychain
·2021-09-03
Please like and comment
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1
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- Sinlin:
  ??
  2021-09-08
  Reply
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bigninja
·2021-09-03
Abt time
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MRRICH
·2021-09-03
Oh dear
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2
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- AllanLaw7878:
  O
  2021-09-03
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WjsdSGTi
·2021-09-03
Good
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1
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- WjsdSGTi:
  Share
  2021-09-03
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IcySilver
·2021-09-03
Hmm… wonder if it’s regulators flexing muscles. Or perhaps these digital transactions not fulfilling taxes?
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- Cheryi:
  Follow
  2021-09-03
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- JBT:
  Gg
  2021-09-03
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BigThumb
·2021-09-03
Yes! ??
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5
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AppleMango
·2021-09-03
Hi
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1
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- AppleMango:
  Hi
  2021-09-03
  Reply
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pin123
·2021-09-03
Hi
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5
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- edamame:
  hi
  2021-09-03
  Reply
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lee12
·2021-09-03
Good to know
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一初心一
·2021-09-03
Please like, thanks
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- 0680huat:
  Ok
  2021-09-03
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- Lyra83:
  Done
  2021-09-03
  Reply
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Alannjy
·2021-09-03
Decentralize..
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7
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- VictorLin:
  Like
  2021-09-03
  Reply
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nelson21
·2021-09-03
Wow
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5
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- jejesss:
  huh
  2021-09-03
  Reply
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PiggyBubbles
·2021-09-03
Plslike
Reply
4
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- hello369:
  Done
  2021-09-03
  Reply
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Abundance Thankful
·2021-09-03
Wow
Reply
9
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- Alannjy:
  Like
  2021-09-03
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Ai_Ling
·2021-09-03
Good morning
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6
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- Ai_Ling:
  nice
  2021-09-03
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mokmokmok
·2021-09-03
Please like n comment
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- 一初心一:
  sone
  2021-09-03
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TSL1121
·2021-09-03
hi
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- TSL1121:
  hi
  2021-09-03
  Reply
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aliciatng
·2021-09-03
Ookay tq
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- eleele:
  Hi
  2021-09-03
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While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. 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Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":815876539,"gmtCreate":1630671433921,"gmtModify":1676530371802,"author":{"id":"3583465977097611","authorId":"3583465977097611","name":"Ghuna","avatar":"https://static.tigerbbs.com/b2083449d33291e1e0e35b026e7cad96","vip":1,"crmLevel":8,"crmLevelSwitch":1,"idStr":"3583465977097611","authorIdStr":"3583465977097611"},"htmlText":"Regulations. Afraid it might open flood gates","listText":"Regulations. Afraid it might open flood gates","text":"Regulations. Afraid it might open flood gates","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815876539","repostId":1108680670,"repostType":4,"repost":{"id":"1108680670","pubTimestamp":1630660839,"share":"https://ttm.financial/m/news/1108680670?lang=&edition=fundamental","pubTime":"2021-09-03 17:20","market":"us","language":"en","title":"Singapore Tells Binance to Halt Service in Latest Crypto Hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1108680670","media":"Bloomberg","summary":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a pote","content":"<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.</p>\n<p>Binance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.</p>\n<p>As Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.</p>\n<p>The Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.</p>\n<p>‘Holistic View’</p>\n<p>“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”</p>\n<p>Binance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.</p>\n<p>The company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.</p>\n<p>That entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.</p>\n<p>Singapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.</p>\n<p>MAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.</p>\n<p>Binance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.</p>\n<p>The company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Tells Binance to Halt Service in Latest Crypto Hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Tells Binance to Halt Service in Latest Crypto Hit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108680670","content_text":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.\nBinance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.\nAs Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.\nThe Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.\nMAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.\nBinance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.\nThe company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5742447,"gmtCreate":1630671785855,"gmtModify":1663233338548,"authorId":3581847021927100,"author":{"id":3581847021927100,"idStr":"3581847021927100","authorId":3581847021927100,"name":"GuSen","avatar":"https://static.tigerbbs.com/1b70044f21c62e929a7c4b5157b5a273","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815876539,"type":1,"supId":0,"prevId":0,"content":"Cryto Alert!!!","text":"Cryto Alert!!!","html":"Cryto Alert!!!"}],"langContent":"EN"},{"id":815822474,"gmtCreate":1630667959898,"gmtModify":1676530371030,"author":{"id":"3568940106394782","authorId":"3568940106394782","name":"Cheryi","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3568940106394782","authorIdStr":"3568940106394782"},"htmlText":"Follow","listText":"Follow","text":"Follow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815822474","repostId":1108680670,"repostType":4,"repost":{"id":"1108680670","pubTimestamp":1630660839,"share":"https://ttm.financial/m/news/1108680670?lang=&edition=fundamental","pubTime":"2021-09-03 17:20","market":"us","language":"en","title":"Singapore Tells Binance to Halt Service in Latest Crypto Hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1108680670","media":"Bloomberg","summary":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a pote","content":"<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.</p>\n<p>Binance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.</p>\n<p>As Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.</p>\n<p>The Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.</p>\n<p>‘Holistic View’</p>\n<p>“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”</p>\n<p>Binance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.</p>\n<p>The company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.</p>\n<p>That entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.</p>\n<p>Singapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.</p>\n<p>MAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.</p>\n<p>Binance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.</p>\n<p>The company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Tells Binance to Halt Service in Latest Crypto Hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Tells Binance to Halt Service in Latest Crypto Hit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108680670","content_text":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.\nBinance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.\nAs Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.\nThe Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.\nMAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.\nBinance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.\nThe company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5788024,"gmtCreate":1631065550425,"gmtModify":1663233540132,"authorId":3570851668487502,"author":{"id":3570851668487502,"idStr":"3570851668487502","authorId":3570851668487502,"name":"JesseC","avatar":"https://community-static.tradeup.com/news/aa75283eff8e6ec8f384f30a9ae50e16","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.09.11","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":4,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815822474,"type":1,"supId":0,"prevId":0,"content":"<u>nice</u>","text":"<u>nice</u>","html":"<u>nice</u>"}],"langContent":"EN"},{"id":815823083,"gmtCreate":1630667539242,"gmtModify":1676530370905,"author":{"id":"3571801721484161","authorId":"3571801721484161","name":"Keychain","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3571801721484161","authorIdStr":"3571801721484161"},"htmlText":"Please like and comment","listText":"Please like and comment","text":"Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815823083","repostId":1108680670,"repostType":4,"repost":{"id":"1108680670","pubTimestamp":1630660839,"share":"https://ttm.financial/m/news/1108680670?lang=&edition=fundamental","pubTime":"2021-09-03 17:20","market":"us","language":"en","title":"Singapore Tells Binance to Halt Service in Latest Crypto Hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1108680670","media":"Bloomberg","summary":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a pote","content":"<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.</p>\n<p>Binance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.</p>\n<p>As Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.</p>\n<p>The Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.</p>\n<p>‘Holistic View’</p>\n<p>“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”</p>\n<p>Binance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.</p>\n<p>The company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.</p>\n<p>That entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.</p>\n<p>Singapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.</p>\n<p>MAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.</p>\n<p>Binance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.</p>\n<p>The company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Tells Binance to Halt Service in Latest Crypto Hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Tells Binance to Halt Service in Latest Crypto Hit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108680670","content_text":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.\nBinance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.\nAs Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.\nThe Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.\nMAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.\nBinance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.\nThe company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5783695,"gmtCreate":1631032001792,"gmtModify":1663233522541,"authorId":3578273090742274,"author":{"id":3578273090742274,"idStr":"3578273090742274","authorId":3578273090742274,"name":"Sinlin","avatar":"https://static.tigerbbs.com/e26a5aacb13f0157a96e28fd565c12e5","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815823083,"type":1,"supId":0,"prevId":0,"content":"??","text":"??","html":"??"}],"langContent":"EN"},{"id":815867142,"gmtCreate":1630667348686,"gmtModify":1676530370834,"author":{"id":"3580706487697247","authorId":"3580706487697247","name":"bigninja","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3580706487697247","authorIdStr":"3580706487697247"},"htmlText":"Abt time","listText":"Abt time","text":"Abt time","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/815867142","repostId":1108680670,"repostType":4,"repost":{"id":"1108680670","pubTimestamp":1630660839,"share":"https://ttm.financial/m/news/1108680670?lang=&edition=fundamental","pubTime":"2021-09-03 17:20","market":"us","language":"en","title":"Singapore Tells Binance to Halt Service in Latest Crypto Hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1108680670","media":"Bloomberg","summary":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a pote","content":"<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.</p>\n<p>Binance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.</p>\n<p>As Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.</p>\n<p>The Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.</p>\n<p>‘Holistic View’</p>\n<p>“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”</p>\n<p>Binance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.</p>\n<p>The company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.</p>\n<p>That entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.</p>\n<p>Singapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.</p>\n<p>MAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.</p>\n<p>Binance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.</p>\n<p>The company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Tells Binance to Halt Service in Latest Crypto Hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Tells Binance to Halt Service in Latest Crypto Hit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108680670","content_text":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.\nBinance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.\nAs Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.\nThe Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.\nMAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.\nBinance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.\nThe company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":815869313,"gmtCreate":1630666697832,"gmtModify":1676530370614,"author":{"id":"3582792409142285","authorId":"3582792409142285","name":"MRRICH","avatar":"https://static.tigerbbs.com/35ba916bd4fa84b460ff38eee7294c37","vip":1,"crmLevel":8,"crmLevelSwitch":0,"idStr":"3582792409142285","authorIdStr":"3582792409142285"},"htmlText":"Oh dear","listText":"Oh dear","text":"Oh dear","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815869313","repostId":1108680670,"repostType":4,"repost":{"id":"1108680670","pubTimestamp":1630660839,"share":"https://ttm.financial/m/news/1108680670?lang=&edition=fundamental","pubTime":"2021-09-03 17:20","market":"us","language":"en","title":"Singapore Tells Binance to Halt Service in Latest Crypto Hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1108680670","media":"Bloomberg","summary":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a pote","content":"<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.</p>\n<p>Binance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.</p>\n<p>As Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.</p>\n<p>The Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.</p>\n<p>‘Holistic View’</p>\n<p>“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”</p>\n<p>Binance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.</p>\n<p>The company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.</p>\n<p>That entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.</p>\n<p>Singapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.</p>\n<p>MAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.</p>\n<p>Binance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.</p>\n<p>The company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Tells Binance to Halt Service in Latest Crypto Hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Tells Binance to Halt Service in Latest Crypto Hit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108680670","content_text":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.\nBinance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.\nAs Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.\nThe Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.\nMAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.\nBinance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.\nThe company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5741964,"gmtCreate":1630667007565,"gmtModify":1635131900802,"authorId":3581822921647319,"author":{"id":3581822921647319,"idStr":"3581822921647319","authorId":3581822921647319,"name":"AllanLaw7878","avatar":"https://static.tigerbbs.com/63d32a493c541f1a5760a4140e8835e9","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815869313,"type":1,"supId":0,"prevId":0,"content":"O","text":"O","html":"O"}],"langContent":"EN"},{"id":815869039,"gmtCreate":1630666679121,"gmtModify":1676530370605,"author":{"id":"3576295596635298","authorId":"3576295596635298","name":"WjsdSGTi","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3576295596635298","authorIdStr":"3576295596635298"},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815869039","repostId":1108680670,"repostType":4,"repost":{"id":"1108680670","pubTimestamp":1630660839,"share":"https://ttm.financial/m/news/1108680670?lang=&edition=fundamental","pubTime":"2021-09-03 17:20","market":"us","language":"en","title":"Singapore Tells Binance to Halt Service in Latest Crypto Hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1108680670","media":"Bloomberg","summary":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a pote","content":"<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.</p>\n<p>Binance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.</p>\n<p>As Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.</p>\n<p>The Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.</p>\n<p>‘Holistic View’</p>\n<p>“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”</p>\n<p>Binance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.</p>\n<p>The company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.</p>\n<p>That entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.</p>\n<p>Singapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.</p>\n<p>MAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.</p>\n<p>Binance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.</p>\n<p>The company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Tells Binance to Halt Service in Latest Crypto Hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Tells Binance to Halt Service in Latest Crypto Hit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108680670","content_text":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.\nBinance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.\nAs Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.\nThe Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.\nMAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.\nBinance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.\nThe company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5741920,"gmtCreate":1630666686697,"gmtModify":1663233338733,"authorId":3576295596635298,"author":{"id":3576295596635298,"idStr":"3576295596635298","authorId":3576295596635298,"name":"WjsdSGTi","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815869039,"type":1,"supId":0,"prevId":0,"content":"Share","text":"Share","html":"Share"}],"langContent":"EN"},{"id":815812963,"gmtCreate":1630665091752,"gmtModify":1676530370157,"author":{"id":"3574577404599862","authorId":"3574577404599862","name":"IcySilver","avatar":"https://static.tigerbbs.com/484d3b69652c2ca3d6cd65bc1007a60b","vip":2,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3574577404599862","authorIdStr":"3574577404599862"},"htmlText":"Hmm… wonder if it’s regulators flexing muscles. Or perhaps these digital transactions not fulfilling taxes?","listText":"Hmm… wonder if it’s regulators flexing muscles. Or perhaps these digital transactions not fulfilling taxes?","text":"Hmm… wonder if it’s regulators flexing muscles. Or perhaps these digital transactions not fulfilling taxes?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/815812963","repostId":1108680670,"repostType":4,"repost":{"id":"1108680670","pubTimestamp":1630660839,"share":"https://ttm.financial/m/news/1108680670?lang=&edition=fundamental","pubTime":"2021-09-03 17:20","market":"us","language":"en","title":"Singapore Tells Binance to Halt Service in Latest Crypto Hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1108680670","media":"Bloomberg","summary":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a pote","content":"<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.</p>\n<p>Binance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.</p>\n<p>As Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.</p>\n<p>The Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.</p>\n<p>‘Holistic View’</p>\n<p>“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”</p>\n<p>Binance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.</p>\n<p>The company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.</p>\n<p>That entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.</p>\n<p>Singapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.</p>\n<p>MAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.</p>\n<p>Binance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.</p>\n<p>The company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Tells Binance to Halt Service in Latest Crypto Hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Tells Binance to Halt Service in Latest Crypto Hit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108680670","content_text":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.\nBinance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.\nAs Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.\nThe Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.\nMAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.\nBinance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.\nThe company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5742082,"gmtCreate":1630667990896,"gmtModify":1663233340744,"authorId":3568940106394782,"author":{"id":3568940106394782,"idStr":"3568940106394782","authorId":3568940106394782,"name":"Cheryi","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815812963,"type":1,"supId":5741860,"prevId":0,"content":"<u>Follow</u>","text":"<u>Follow</u>","html":"<u>Follow</u>"},{"id":5741860,"gmtCreate":1630666302435,"gmtModify":1663233338729,"authorId":3581751165798598,"author":{"id":3581751165798598,"idStr":"3581751165798598","authorId":3581751165798598,"name":"JBT","avatar":"https://static.tigerbbs.com/1ffd34e99f27855f8ef139a4bdb4503f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815812963,"type":1,"supId":0,"prevId":0,"content":"<u>Gg</u>","text":"<u>Gg</u>","html":"<u>Gg</u>"}],"langContent":"EN"},{"id":815813087,"gmtCreate":1630664645149,"gmtModify":1676530370078,"author":{"id":"3581996485604595","authorId":"3581996485604595","name":"BigThumb","avatar":"https://static.tigerbbs.com/d9366427dbceb4a03b5342d31b6c3aaa","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581996485604595","authorIdStr":"3581996485604595"},"htmlText":"Yes! ?? &nbsp;","listText":"Yes! ?? &nbsp;","text":"Yes! ??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/815813087","repostId":1108680670,"repostType":4,"repost":{"id":"1108680670","pubTimestamp":1630660839,"share":"https://ttm.financial/m/news/1108680670?lang=&edition=fundamental","pubTime":"2021-09-03 17:20","market":"us","language":"en","title":"Singapore Tells Binance to Halt Service in Latest Crypto Hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1108680670","media":"Bloomberg","summary":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a pote","content":"<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.</p>\n<p>Binance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.</p>\n<p>As Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.</p>\n<p>The Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.</p>\n<p>‘Holistic View’</p>\n<p>“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”</p>\n<p>Binance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.</p>\n<p>The company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.</p>\n<p>That entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.</p>\n<p>Singapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.</p>\n<p>MAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.</p>\n<p>Binance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.</p>\n<p>The company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Tells Binance to Halt Service in Latest Crypto Hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Tells Binance to Halt Service in Latest Crypto Hit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108680670","content_text":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.\nBinance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.\nAs Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.\nThe Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.\nMAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.\nBinance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.\nThe company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":815819916,"gmtCreate":1630664521235,"gmtModify":1676530370056,"author":{"id":"3567141277226150","authorId":"3567141277226150","name":"AppleMango","avatar":"https://static.tigerbbs.com/68d3e430c230d4cfd4e97044c56f2b6d","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3567141277226150","authorIdStr":"3567141277226150"},"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815819916","repostId":1108680670,"repostType":4,"repost":{"id":"1108680670","pubTimestamp":1630660839,"share":"https://ttm.financial/m/news/1108680670?lang=&edition=fundamental","pubTime":"2021-09-03 17:20","market":"us","language":"en","title":"Singapore Tells Binance to Halt Service in Latest Crypto Hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1108680670","media":"Bloomberg","summary":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a pote","content":"<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.</p>\n<p>Binance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.</p>\n<p>As Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.</p>\n<p>The Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.</p>\n<p>‘Holistic View’</p>\n<p>“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”</p>\n<p>Binance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.</p>\n<p>The company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.</p>\n<p>That entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.</p>\n<p>Singapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.</p>\n<p>MAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.</p>\n<p>Binance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.</p>\n<p>The company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Tells Binance to Halt Service in Latest Crypto Hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Tells Binance to Halt Service in Latest Crypto Hit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108680670","content_text":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.\nBinance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.\nAs Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.\nThe Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.\nMAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.\nBinance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.\nThe company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5741637,"gmtCreate":1630664529112,"gmtModify":1663233335239,"authorId":3567141277226150,"author":{"id":3567141277226150,"idStr":"3567141277226150","authorId":3567141277226150,"name":"AppleMango","avatar":"https://static.tigerbbs.com/68d3e430c230d4cfd4e97044c56f2b6d","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815819916,"type":1,"supId":0,"prevId":0,"content":"Hi","text":"Hi","html":"Hi"}],"langContent":"EN"},{"id":815836454,"gmtCreate":1630663806478,"gmtModify":1676530369931,"author":{"id":"3573107359557183","authorId":"3573107359557183","name":"pin123","avatar":"https://static.tigerbbs.com/00292bc4b19eb7c5d956c4d02afe5983","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3573107359557183","authorIdStr":"3573107359557183"},"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815836454","repostId":1108680670,"repostType":4,"repost":{"id":"1108680670","pubTimestamp":1630660839,"share":"https://ttm.financial/m/news/1108680670?lang=&edition=fundamental","pubTime":"2021-09-03 17:20","market":"us","language":"en","title":"Singapore Tells Binance to Halt Service in Latest Crypto Hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1108680670","media":"Bloomberg","summary":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a pote","content":"<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.</p>\n<p>Binance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.</p>\n<p>As Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.</p>\n<p>The Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.</p>\n<p>‘Holistic View’</p>\n<p>“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”</p>\n<p>Binance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.</p>\n<p>The company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.</p>\n<p>That entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.</p>\n<p>Singapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.</p>\n<p>MAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.</p>\n<p>Binance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.</p>\n<p>The company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Tells Binance to Halt Service in Latest Crypto Hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Tells Binance to Halt Service in Latest Crypto Hit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108680670","content_text":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.\nBinance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.\nAs Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.\nThe Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.\nMAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.\nBinance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.\nThe company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5741754,"gmtCreate":1630665388178,"gmtModify":1631891791920,"authorId":3581982441889617,"author":{"id":3581982441889617,"idStr":"3581982441889617","authorId":3581982441889617,"name":"edamame","avatar":"https://static.tigerbbs.com/63449ce6bfbebf6849034560328a7d39","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815836454,"type":1,"supId":0,"prevId":0,"content":"<u>hi</u>","text":"<u>hi</u>","html":"<u>hi</u>"}],"langContent":"EN"},{"id":815831152,"gmtCreate":1630663501176,"gmtModify":1676530369867,"author":{"id":"3579588834516990","authorId":"3579588834516990","name":"lee12","avatar":"https://static.tigerbbs.com/12361a2024c0ae8c8d97fd2339a79201","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579588834516990","authorIdStr":"3579588834516990"},"htmlText":"Good to know","listText":"Good to know","text":"Good to know","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/815831152","repostId":1108680670,"repostType":4,"repost":{"id":"1108680670","pubTimestamp":1630660839,"share":"https://ttm.financial/m/news/1108680670?lang=&edition=fundamental","pubTime":"2021-09-03 17:20","market":"us","language":"en","title":"Singapore Tells Binance to Halt Service in Latest Crypto Hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1108680670","media":"Bloomberg","summary":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a pote","content":"<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.</p>\n<p>Binance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.</p>\n<p>As Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.</p>\n<p>The Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.</p>\n<p>‘Holistic View’</p>\n<p>“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”</p>\n<p>Binance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.</p>\n<p>The company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.</p>\n<p>That entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.</p>\n<p>Singapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.</p>\n<p>MAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.</p>\n<p>Binance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.</p>\n<p>The company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Tells Binance to Halt Service in Latest Crypto Hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Tells Binance to Halt Service in Latest Crypto Hit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108680670","content_text":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.\nBinance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.\nAs Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.\nThe Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.\nMAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.\nBinance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.\nThe company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":815894620,"gmtCreate":1630663077160,"gmtModify":1676530369745,"author":{"id":"3579259159683278","authorId":"3579259159683278","name":"一初心一","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3579259159683278","authorIdStr":"3579259159683278"},"htmlText":"Please like, thanks&nbsp;","listText":"Please like, thanks&nbsp;","text":"Please like, thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/815894620","repostId":1108680670,"repostType":4,"repost":{"id":"1108680670","pubTimestamp":1630660839,"share":"https://ttm.financial/m/news/1108680670?lang=&edition=fundamental","pubTime":"2021-09-03 17:20","market":"us","language":"en","title":"Singapore Tells Binance to Halt Service in Latest Crypto Hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1108680670","media":"Bloomberg","summary":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a pote","content":"<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.</p>\n<p>Binance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.</p>\n<p>As Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.</p>\n<p>The Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.</p>\n<p>‘Holistic View’</p>\n<p>“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”</p>\n<p>Binance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.</p>\n<p>The company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.</p>\n<p>That entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.</p>\n<p>Singapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.</p>\n<p>MAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.</p>\n<p>Binance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.</p>\n<p>The company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Tells Binance to Halt Service in Latest Crypto Hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Tells Binance to Halt Service in Latest Crypto Hit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108680670","content_text":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.\nBinance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.\nAs Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.\nThe Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.\nMAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.\nBinance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.\nThe company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5741740,"gmtCreate":1630665277006,"gmtModify":1663233335132,"authorId":3578465657605658,"author":{"id":3578465657605658,"idStr":"3578465657605658","authorId":3578465657605658,"name":"0680huat","avatar":"https://static.tigerbbs.com/674aa720475e31276b1e3c6cfc5cc9b0","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815894620,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"},{"id":5741496,"gmtCreate":1630663438595,"gmtModify":1663233334555,"authorId":3581925901111171,"author":{"id":3581925901111171,"idStr":"3581925901111171","authorId":3581925901111171,"name":"Lyra83","avatar":"https://static.tigerbbs.com/b396c4c95db8804f8ad92ee4531907ba","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815894620,"type":1,"supId":0,"prevId":0,"content":"Done","text":"Done","html":"Done"}],"langContent":"EN"},{"id":815890779,"gmtCreate":1630662373391,"gmtModify":1676530369493,"author":{"id":"3572213696829638","authorId":"3572213696829638","name":"Alannjy","avatar":"https://static.tigerbbs.com/ab326ac9056e88557b36f97dfdad9cac","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3572213696829638","authorIdStr":"3572213696829638"},"htmlText":"Decentralize..&nbsp;","listText":"Decentralize..&nbsp;","text":"Decentralize..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815890779","repostId":1108680670,"repostType":4,"repost":{"id":"1108680670","pubTimestamp":1630660839,"share":"https://ttm.financial/m/news/1108680670?lang=&edition=fundamental","pubTime":"2021-09-03 17:20","market":"us","language":"en","title":"Singapore Tells Binance to Halt Service in Latest Crypto Hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1108680670","media":"Bloomberg","summary":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a pote","content":"<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.</p>\n<p>Binance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.</p>\n<p>As Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.</p>\n<p>The Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.</p>\n<p>‘Holistic View’</p>\n<p>“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”</p>\n<p>Binance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.</p>\n<p>The company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.</p>\n<p>That entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.</p>\n<p>Singapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.</p>\n<p>MAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.</p>\n<p>Binance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.</p>\n<p>The company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Tells Binance to Halt Service in Latest Crypto Hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Tells Binance to Halt Service in Latest Crypto Hit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108680670","content_text":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.\nBinance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.\nAs Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.\nThe Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.\nMAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.\nBinance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.\nThe company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5741393,"gmtCreate":1630662785176,"gmtModify":1663233333449,"authorId":3561029602854131,"author":{"id":3561029602854131,"idStr":"3561029602854131","authorId":3561029602854131,"name":"VictorLin","avatar":"https://static.tigerbbs.com/8fd797c0a3e81d0a5a149ede57c53dc2","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 300","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.02.16","exceedPercentage":"93.79%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":7,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815890779,"type":1,"supId":0,"prevId":0,"content":"Like","text":"Like","html":"Like"}],"langContent":"EN"},{"id":815800216,"gmtCreate":1630661662635,"gmtModify":1676530369251,"author":{"id":"3581678664547146","authorId":"3581678664547146","name":"nelson21","avatar":"https://static.tigerbbs.com/f3bfb16048c75dbf023d98c18914333e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581678664547146","authorIdStr":"3581678664547146"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815800216","repostId":1108680670,"repostType":4,"repost":{"id":"1108680670","pubTimestamp":1630660839,"share":"https://ttm.financial/m/news/1108680670?lang=&edition=fundamental","pubTime":"2021-09-03 17:20","market":"us","language":"en","title":"Singapore Tells Binance to Halt Service in Latest Crypto Hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1108680670","media":"Bloomberg","summary":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a pote","content":"<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.</p>\n<p>Binance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.</p>\n<p>As Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.</p>\n<p>The Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.</p>\n<p>‘Holistic View’</p>\n<p>“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”</p>\n<p>Binance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.</p>\n<p>The company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.</p>\n<p>That entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.</p>\n<p>Singapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.</p>\n<p>MAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.</p>\n<p>Binance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.</p>\n<p>The company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Tells Binance to Halt Service in Latest Crypto Hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Tells Binance to Halt Service in Latest Crypto Hit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108680670","content_text":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.\nBinance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.\nAs Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.\nThe Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.\nMAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.\nBinance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.\nThe company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5741279,"gmtCreate":1630662177652,"gmtModify":1663233332830,"authorId":3571015317722951,"author":{"id":3571015317722951,"idStr":"3571015317722951","authorId":3571015317722951,"name":"jejesss","avatar":"https://static.tigerbbs.com/198a6a4d807d473d73a6f152624c1a23","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815800216,"type":1,"supId":0,"prevId":0,"content":"<u>huh</u>","text":"<u>huh</u>","html":"<u>huh</u>"}],"langContent":"EN"},{"id":815800892,"gmtCreate":1630661643816,"gmtModify":1676530369246,"author":{"id":"3582590497464602","authorId":"3582590497464602","name":"PiggyBubbles","avatar":"https://static.tigerbbs.com/48614a3ff47f0d846b59de22e49151a3","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3582590497464602","authorIdStr":"3582590497464602"},"htmlText":"Plslike","listText":"Plslike","text":"Plslike","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815800892","repostId":1108680670,"repostType":4,"repost":{"id":"1108680670","pubTimestamp":1630660839,"share":"https://ttm.financial/m/news/1108680670?lang=&edition=fundamental","pubTime":"2021-09-03 17:20","market":"us","language":"en","title":"Singapore Tells Binance to Halt Service in Latest Crypto Hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1108680670","media":"Bloomberg","summary":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a pote","content":"<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.</p>\n<p>Binance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.</p>\n<p>As Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.</p>\n<p>The Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.</p>\n<p>‘Holistic View’</p>\n<p>“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”</p>\n<p>Binance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.</p>\n<p>The company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.</p>\n<p>That entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.</p>\n<p>Singapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.</p>\n<p>MAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.</p>\n<p>Binance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.</p>\n<p>The company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Tells Binance to Halt Service in Latest Crypto Hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Tells Binance to Halt Service in Latest Crypto Hit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108680670","content_text":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.\nBinance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.\nAs Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.\nThe Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.\nMAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.\nBinance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.\nThe company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5741305,"gmtCreate":1630662306697,"gmtModify":1663233333526,"authorId":3581346389720502,"author":{"id":3581346389720502,"idStr":"3581346389720502","authorId":3581346389720502,"name":"hello369","avatar":"https://static.tigerbbs.com/6f472aef15b4385af1feba4d7bd16e06","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815800892,"type":1,"supId":0,"prevId":0,"content":"<u>Done</u>","text":"<u>Done</u>","html":"<u>Done</u>"}],"langContent":"EN"},{"id":815177172,"gmtCreate":1630661558196,"gmtModify":1676530369221,"author":{"id":"3572176137415007","authorId":"3572176137415007","name":"Abundance Thankful","avatar":"https://community-static.tradeup.com/news/3596d672dc89783cd009721d4bab5ddb","vip":1,"crmLevel":4,"crmLevelSwitch":1,"idStr":"3572176137415007","authorIdStr":"3572176137415007"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815177172","repostId":1108680670,"repostType":4,"repost":{"id":"1108680670","pubTimestamp":1630660839,"share":"https://ttm.financial/m/news/1108680670?lang=&edition=fundamental","pubTime":"2021-09-03 17:20","market":"us","language":"en","title":"Singapore Tells Binance to Halt Service in Latest Crypto Hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1108680670","media":"Bloomberg","summary":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a pote","content":"<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.</p>\n<p>Binance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.</p>\n<p>As Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.</p>\n<p>The Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.</p>\n<p>‘Holistic View’</p>\n<p>“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”</p>\n<p>Binance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.</p>\n<p>The company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.</p>\n<p>That entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.</p>\n<p>Singapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.</p>\n<p>MAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.</p>\n<p>Binance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.</p>\n<p>The company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Tells Binance to Halt Service in Latest Crypto Hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Tells Binance to Halt Service in Latest Crypto Hit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108680670","content_text":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.\nBinance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.\nAs Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.\nThe Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.\nMAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.\nBinance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.\nThe company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5741315,"gmtCreate":1630662394065,"gmtModify":1663233334937,"authorId":3572213696829638,"author":{"id":3572213696829638,"idStr":"3572213696829638","authorId":3572213696829638,"name":"Alannjy","avatar":"https://static.tigerbbs.com/ab326ac9056e88557b36f97dfdad9cac","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815177172,"type":1,"supId":0,"prevId":0,"content":"Like","text":"Like","html":"Like"}],"langContent":"EN"},{"id":815174443,"gmtCreate":1630661535982,"gmtModify":1676530369206,"author":{"id":"3581897384326559","authorId":"3581897384326559","name":"Ai_Ling","avatar":"https://static.tigerbbs.com/10016b9fcd8f9137b9387b6cc0f9f965","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581897384326559","authorIdStr":"3581897384326559"},"htmlText":"Good morning","listText":"Good morning","text":"Good morning","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815174443","repostId":1108680670,"repostType":4,"repost":{"id":"1108680670","pubTimestamp":1630660839,"share":"https://ttm.financial/m/news/1108680670?lang=&edition=fundamental","pubTime":"2021-09-03 17:20","market":"us","language":"en","title":"Singapore Tells Binance to Halt Service in Latest Crypto Hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1108680670","media":"Bloomberg","summary":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a pote","content":"<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.</p>\n<p>Binance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.</p>\n<p>As Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.</p>\n<p>The Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.</p>\n<p>‘Holistic View’</p>\n<p>“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”</p>\n<p>Binance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.</p>\n<p>The company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.</p>\n<p>That entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.</p>\n<p>Singapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.</p>\n<p>MAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.</p>\n<p>Binance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.</p>\n<p>The company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Tells Binance to Halt Service in Latest Crypto Hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Tells Binance to Halt Service in Latest Crypto Hit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108680670","content_text":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.\nBinance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.\nAs Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.\nThe Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.\nMAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.\nBinance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.\nThe company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5741207,"gmtCreate":1630661560584,"gmtModify":1663233333532,"authorId":3581897384326559,"author":{"id":3581897384326559,"idStr":"3581897384326559","authorId":3581897384326559,"name":"Ai_Ling","avatar":"https://static.tigerbbs.com/10016b9fcd8f9137b9387b6cc0f9f965","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815174443,"type":1,"supId":0,"prevId":0,"content":"<u>nice</u>","text":"<u>nice</u>","html":"<u>nice</u>"}],"langContent":"EN"},{"id":815174593,"gmtCreate":1630661534512,"gmtModify":1676530369205,"author":{"id":"3586933408017245","authorId":"3586933408017245","name":"mokmokmok","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3586933408017245","authorIdStr":"3586933408017245"},"htmlText":"Please like n comment","listText":"Please like n comment","text":"Please like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815174593","repostId":1108680670,"repostType":4,"repost":{"id":"1108680670","pubTimestamp":1630660839,"share":"https://ttm.financial/m/news/1108680670?lang=&edition=fundamental","pubTime":"2021-09-03 17:20","market":"us","language":"en","title":"Singapore Tells Binance to Halt Service in Latest Crypto Hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1108680670","media":"Bloomberg","summary":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a pote","content":"<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.</p>\n<p>Binance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.</p>\n<p>As Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.</p>\n<p>The Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.</p>\n<p>‘Holistic View’</p>\n<p>“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”</p>\n<p>Binance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.</p>\n<p>The company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.</p>\n<p>That entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.</p>\n<p>Singapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.</p>\n<p>MAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.</p>\n<p>Binance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.</p>\n<p>The company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Tells Binance to Halt Service in Latest Crypto Hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Tells Binance to Halt Service in Latest Crypto Hit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108680670","content_text":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.\nBinance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.\nAs Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.\nThe Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.\nMAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.\nBinance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.\nThe company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5741444,"gmtCreate":1630663094386,"gmtModify":1663233335836,"authorId":3579259159683278,"author":{"id":3579259159683278,"idStr":"3579259159683278","authorId":3579259159683278,"name":"一初心一","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815174593,"type":1,"supId":0,"prevId":0,"content":"<u>sone</u>","text":"<u>sone</u>","html":"<u>sone</u>"}],"langContent":"EN"},{"id":815174065,"gmtCreate":1630661452357,"gmtModify":1676530369198,"author":{"id":"3573295662822598","authorId":"3573295662822598","name":"TSL1121","avatar":"https://static.tigerbbs.com/b7db19d94c5608f927773028279719d2","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3573295662822598","authorIdStr":"3573295662822598"},"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815174065","repostId":1108680670,"repostType":4,"repost":{"id":"1108680670","pubTimestamp":1630660839,"share":"https://ttm.financial/m/news/1108680670?lang=&edition=fundamental","pubTime":"2021-09-03 17:20","market":"us","language":"en","title":"Singapore Tells Binance to Halt Service in Latest Crypto Hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1108680670","media":"Bloomberg","summary":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a pote","content":"<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.</p>\n<p>Binance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.</p>\n<p>As Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.</p>\n<p>The Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.</p>\n<p>‘Holistic View’</p>\n<p>“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”</p>\n<p>Binance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.</p>\n<p>The company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.</p>\n<p>That entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.</p>\n<p>Singapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.</p>\n<p>MAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.</p>\n<p>Binance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.</p>\n<p>The company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Tells Binance to Halt Service in Latest Crypto Hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Tells Binance to Halt Service in Latest Crypto Hit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108680670","content_text":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.\nBinance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.\nAs Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.\nThe Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.\nMAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.\nBinance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.\nThe company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5741189,"gmtCreate":1630661456644,"gmtModify":1631892816324,"authorId":3573295662822598,"author":{"id":3573295662822598,"idStr":"3573295662822598","authorId":3573295662822598,"name":"TSL1121","avatar":"https://static.tigerbbs.com/b7db19d94c5608f927773028279719d2","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815174065,"type":1,"supId":0,"prevId":0,"content":"<u>hi</u>","text":"<u>hi</u>","html":"<u>hi</u>"}],"langContent":"EN"},{"id":815176648,"gmtCreate":1630661241184,"gmtModify":1676530369135,"author":{"id":"3572214398550610","authorId":"3572214398550610","name":"aliciatng","avatar":"https://static.tigerbbs.com/c4b23ee891a1061c7907495a9c7da890","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3572214398550610","authorIdStr":"3572214398550610"},"htmlText":"Ookay tq","listText":"Ookay tq","text":"Ookay tq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815176648","repostId":1108680670,"repostType":4,"repost":{"id":"1108680670","pubTimestamp":1630660839,"share":"https://ttm.financial/m/news/1108680670?lang=&edition=fundamental","pubTime":"2021-09-03 17:20","market":"us","language":"en","title":"Singapore Tells Binance to Halt Service in Latest Crypto Hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1108680670","media":"Bloomberg","summary":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a pote","content":"<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.</p>\n<p>Binance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.</p>\n<p>As Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.</p>\n<p>The Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.</p>\n<p>‘Holistic View’</p>\n<p>“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”</p>\n<p>Binance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.</p>\n<p>The company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.</p>\n<p>That entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.</p>\n<p>Singapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.</p>\n<p>MAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.</p>\n<p>Binance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.</p>\n<p>The company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Tells Binance to Halt Service in Latest Crypto Hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Tells Binance to Halt Service in Latest Crypto Hit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/binance-singapore-scrutiny-adds-mounting-003454644.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108680670","content_text":"(Bloomberg) -- Binance Holdings Ltd. must stop offering services regulated in Singapore after a potential breach of local payment rules, adding to a mounting list of jurisdictions scrutinizing the world’s largest cryptocurrency exchange.\nBinance may be in breach of the Payments Services Act for providing payment services to, and soliciting business from Singapore residents without an appropriate license, the Monetary Authority of Singapore said Thursday, in response to questions from Bloomberg.\nAs Binance didn’t apply for a license under local law, the MAS has added Binance.com to the investor alert list, which warns consumers that Binance isn’t regulated or licensed to provide any payment services locally.\nThe Singapore regulator’s warning marks the latest blow for Binance, which has grown quickly since its 2017 debut and doesn’t have a global headquarters. While Binance has also drawn scrutiny from regulators in the U.S., the U.K., Thailand, Malaysia and Japan, many crypto bulls say tougher frameworks are a sign of market maturity offering more protection for investors that could lure more money to digital assets.\n‘Holistic View’\n“MAS is likely to take a holistic view on the application and consider the fact that Binance (global) has been put on the investor alert list,” said Nizam Ismail, founder of Ethikom Consultancy, a Singapore-based consultant, which advises firms on compliance and regulation. “Binance (global) would have to show that it has remediated any shortcomings and that it will not, going forward, solicit trades from Singapore resident customers.”\nBinance Holdings, which operates globally, has local affiliates in some countries like the U.S. and U.K. -- and in Singapore, with Binance Asia Services, which operates Binance.sg. BAS recently submitted a license application, and is currently exempted from holding a license for the provision of digital payment token services, according to the MAS. That application remains under review.\nThe company’s Singapore operations are conducted by a separate legal entity from Binance.com, with its own local executive and management team, and does not offer any products or services via the Binance.com website or other related entities, and vice versa, Binance Singapore said in an emailed reply to Bloomberg.\nThat entity earned S$645,291 ($480,840) in revenue for the financial year ending March 2020, compared with zero during the previous year, according to a filing to the Accounting and Corporate Regulatory Authority.\nSingapore isn’t the first country to take action against Binance. The U.K. banned the exchange from doing regulated business in Britain and Japan’s Financial Services Agency has warned it’s operating without registration. In the U.S., Bloomberg reported it has been the subject of a probe by the Securities and Exchange Commission.\nMAS has been engaging BAS and expects the firm to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, according to the regulator. The Singapore unit of Binance will inform its customers of the appropriate arrangements as soon as practicable, according to MAS.\nBinance CEO Zhao Changpeng, a Canadian citizen, resides in Singapore and is the majority shareholder of Binance Asia Services, according to ACRA. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia.\nThe company recently hired Richard Teng, the former regulator who spent two decades at the MAS and Singapore Exchange Ltd., to lead its Singapore entity. Teng’s appointment follows comments from Zhao who said Binance would establish multiple headquarters globally and is looking for regional CEOs -- as well as, potentially, his successor -- with compliance experience a big focus in the selection process.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5741190,"gmtCreate":1630661457077,"gmtModify":1663233332664,"authorId":3582683028009738,"author":{"id":3582683028009738,"idStr":"3582683028009738","authorId":3582683028009738,"name":"eleele","avatar":"https://static.tigerbbs.com/23a6831fb1186ff7fe07e620ed152c84","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815176648,"type":1,"supId":0,"prevId":0,"content":"Hi","text":"Hi","html":"Hi"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":113,"commentSize":20,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}