Binance to stop trading in Singapore dollars in compliance with country's regulations

Cryptocurrency exchange Binance will cease offering trading pairs and payment options in Singapore dollars to remain compliant with the country’s regulators.

Binance will also remove its app from Singapore iOS and Google Play stores and Singapore dollars trading pairs from Binance P2P.

Binance has advised users to complete all related P2P trades and remove all related advertisements by Sept. 9 to avoid potential trading disputes.

Moreover, Binance added that it is not operating any official Telegram or online communication channels in Singapore.

Binance said it welcomes developments to the industry’s regulatory framework as they pose opportunities for the market players to collaborate better with the regulators.