Singapore adds Binance to investor alert list

Şükriye Akdeniz

Sep 2, 2021

Monetary Authority of Singapore (MAS) places Binance.com on its investor alert list

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The Monetary Authority of Singapore (MAS), the country's central bank and financial regulator, has placed popular crypto exchange Binance.com on its investor alert list.
Binance.com listed it on Thursday, and only "www.binance.com" is mentioned in the listing. MAS's investor alert list is a list of non-regulated entities that may be perceived as improperly regulated or licensed by the competent authority.
The news came a week after Richard Teng was hired as the CEO of Binance Singapore. Teng also worked at MAS for 13 years from 1994 to 2007 as director of corporate finance.
Binance has a separate website for Singapore operations called Binance.sg, which is not currently on the investor alert list. It is not yet known whether this situation can be interpreted as Binance's operations will be carried out in the country only through Binance.sg.
In July, MAS told Bloomberg:
“We are aware of actions taken by other regulatory authorities against Binance and will follow up accordingly.”

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