March 28, 2024

Binance Blocks Deposits And Trading For Singapore Residents

Binance Blocks Deposits And Trading For Singapore Residents

The cryptocurrency exchange announced new restrictions amid pressure from the regulator.

At the beginning of the month Binancewas forced to stop accepting deposits in the Singapore dollar.

According to a statement published on the websiteBinance, Singapore users will no longer be able to make deposits in fiat currencies, trade spot, use Liquid Swap, or purchase cryptocurrency using fiat. 

Binance has faced strong regulatory pressure this year. Subsequently, the management was forced to suspend some services in several countries.

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Based on materialscointelegraph.com