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⚡Breaking: Binance To Cease Its Operations In Singapore From February

The crypto exchange has withdrawn its license application to the MAS.

Hey Blockster, In the past few months, Binance has been all over the news. And, unfortunately for the crypto exchange, the stories it has been featured in were mostly negative. Despite being the largest cryptocurrency exchange on the market, Binance has been at the center of a global regulatory crackdown targeting the company.   Starting with the UK's Financial Conduct Authority (FCA), regulators worldwide cited the business' unlicensed solutions as the primary reason for their actions against Binance.   As a result, while the company had to halt all or a part of its services in multiple jurisdictions, it invested a significant share of its resources to achieve compliance with the local laws, policies, and regulations within the nations it operates in.   Despite its efforts, things are not going quite as planned for the exchange. Recently, Binance Asia announced in a press release that it has withdrawn its application for a Digital Payment Token (DPT) license in Singapore.   As a result, while the company was allowed to operate in the nation until the Monetary Authority of Singapore (MAS) decided on the fate of its license, the withdrawal of its DPT application means that Binance will close all existing services and positions in the Asian country from February 13.   Check out this Blockdesk article to learn the details of the story! Want to stay up-to-date with the latest news, trends, and events within the cryptocurrency space? Look no further; we have collected all the exciting digital asset stories for you below: The Metaverse And Yield Farming - How The Two Work Together – Yield farming is among the most popular activities within the decentralized finance space. But did you know that it can also work together with metaverse projects? Australian Central Bank Not Compelled To Launch CBDC – While El Salvador has made Bitcoin legal tender, other nations focus on developing their central bank digital currencies to enhance their financial systems. However, it seems that the Reserve Bank of Australia (RBA) is not among the central banks that will launch their CBDCs in the near future. HEX — The Ultimate Crypto Scam That People Are Still Being Fooled By – While many unique projects in the cryptocurrency space create tremendous value for their users, there are also rather dubious initiatives. HEX is a great example of the latter. But does it also mean that it is operated by fraudsters? Criminals, Cryptocurrency, And Anarcho-Tyranny – One of the top arguments of crypto critics is that digital assets should be banned due to increased criminal usage. But what is the truth behind this statement, and should we be worried about the illicit utilization of cryptocurrency? Hope you enjoyed today's cryptocurrency stories. Be sure to check back tomorrow, as we will return with our newest collection of Blockdesk articles. See you then! Cheers, The Blockster Team © 2021 Blockster. All rights reserved This message was sent to lelakikelasmenengah@gmail.com by info@blockster.com Queensway, Midtown, Giblartar GX11 1AA, Gibraltar Unsubscribe | Manage Subscription | Forward Email

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