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Less than 3% of digital payment token licenses have been approved, seemingly contradicting Singapore's crypto-friendly stance.
Samuel Wan 3 min read
Binance inability to comply with Singapore’s anti-money laundering regulations forced it out of the country.
Binance CEO Changpeng Zhao explains why it makes sense to bow out of Singapore now.
The Singaporean arm of crypto trading giant Binance has withdrawn its application for a crypto services permit in the city-state.
The bank has become the 24th member of the Hedera Governing Council and is the first Southeast Asian bank to have joined the worldwide hyperledger organization.
The island nation has long and planned its own CBDC. And development is now set to begin.
Binance Singapore has announced its new CEO in its bid to become more regulatory compliant.
Over 78% investors in the island city have invested in the world’s second-largest cryptocurrency, with 40% punting on the third-largest one.
Institutional crypto trading platform DBS Digital Exchange saw its trading volume grow up to $40 million in just a few months.
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