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Olivia Poh, The Business Times, 13 December 2021 BINANCE Singapore unit has withdrawn its application for a crypto permit by the Monetary Authority of Singapore (MAS) to operate in the city-state, and will shut down its operations in the financial hub by Feb 13, it said in a statement on Monday (Dec 13). Effective immediately, registrations, crypto and currency deposits as well as trading on Binance.sg will be closed. "Our decision to close Binance.sg was not taken lightly. Our immediate priority is to help our users in Singapore transition their holdings to other wallets or other third-party services," said Richard Teng, chief executive of Binance Singapore. "I am grateful to the MAS for its ongoing assistance to Binance Asia Services and we look forward to future opportunities to work together." Earlier this month, The Business Times reported that Binance's local arm is considering withdrawing its application to operate in Singapore, as its application...

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By Coin Bureau

Dear Valued Users, Further to the announcement including Singapore as a restricted jurisdiction ( https://www.huobi.com/support/en-us/detail/94890776278324 ), Huobi Global emphasizes that its paramount concern is to permit Singapore-based users to retire their accounts in an orderly manner and to ensure the safety of their digital assets. Please see the current schedule for retirement of the following services on Huobi Global for Singapore-based users: ETPs, Margin Trading, Grid Trading, Futures Products, Huobi Earn, OTC Trading, Deposit Services, Cloud Wallet, Spot Trading, and Airdrop Services.    I. ETPs, Margin Trading, and Grid Trading 1. ETPs Singapore-based users will no longer be able to subscribe for ETPs from  08:00 (UTC) on Feb 25, 2022,  and will no longer be able to redeem their ETP holdings from  07:55 (UTC) on Mar 16, 2022 . At  08:00 (UTC) on Mar 16, 2022 , the ETP holdings of Singapore-based users will be automatically r...

Claudia Chong, The Business Times, 10 December 2021 MATCHMOVE on Wednesday disclosed that US$80 million of its US$100 million funding from US-based Nityo Infotech will be in the form of in-kind transactions, while the rest will be in cash. Nityo's investment has also been approved by the Monetary Authority of Singapore, according to MatchMove. This comes after The Business Times last month reported a delay in Nityo's investment. Sources had told BT that Nityo, an outsourcing company, agreed to invest in the startup only if majority of the funding is in the form of services. Filings with the Accounting and Corporate Regulatory Authority (ACRA) on Dec 2 showed that there are certain restrictions on how the cash from Nityo can be used. The cash has to be used entirely for MatchMove's quarterly expenditure, which refers to the total operating and capital expenditure projected to be incurred by the company in the quarter. According to the parties' share subscript...

Yong Jun Yuan, The Business Times, 6 December 2021 Ivan Xu, 25-year-old computing and information systems major, strongly believes in the cryptocurrency ecosystem and what it hopes to achieve CRYPTOCURRENCIES have been a polarising topic among investors ever since they gained mainstream attention. On one hand, some believe that cryptocurrencies are purely speculative and cannot be used reliably as a store of value or a unit of account. Others, however, maintain that these pieces of virtual code hold immense potential as we begin to live more of our lives online. Personally, I have always viewed the concept of cryptocurrencies as a libertarian's fevered dream come to life, where value is based on the hope that money may one day be free from the shackles of centralised authorities. So, I was particularly intrigued when I saw a former primary school classmate of mine on Instagram sharing trading tips on cryptocurrencies this year. If Crypto.com advertises that "Fortune ...

Tan Nai Lun, The Business Times, 8 December 2021 CRYPTOCURRENCY trading platform Crypto.com has been awarded the Data Protection Trust Mark (DPTM), making it the first financial technology company to attain the enterprise-wide certification. Awarded by Singapore's Infocomm Media Development Authority (IMDA), the DPTM was introduced to recognise companies that have put in place data protection regimes to comply with obligations under the Personal Data Protection Act. Crypto.com's certification hence "further strengthens its position as an industry leader in data protection and security", the company said in a statement on Monday (Dec 6). Jason Lau, Crypto.com's chief information security officer, noted that the DPTM is Singapore's "most prestigious official certification" for information security and data privacy. Crypto.com's DPTM is held by Foris Asia, the company's trading entity in Singapore. Crypto.com provides customers prepa...