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Home Analysis Binance

After FTX Collapse, Binance Faces Fresh Probe In Singapore

6 months ago
in Binance, CoinGape, Crypto News, News, Singapore
Reading Time: 1 min read
After FTX Collapse, Binance Faces Fresh Probe In Singapore
After FTX Collapse, Binance Faces Fresh Probe In Singapore

Binance Singapore Probe News: In the wake of the FTX meltdown and global regulatory scrutiny, top crypto exchange Binance is under investigation by the Singapore authorities. According to reports, a financial crime investigation unit of the Singapore Police Force took up the investigation. In recent times, doubts were raised around Singapore’s preferential treatment to Binance in comparison with FTX.

Binance Singapore Rule Breach

Earlier, the Monetary Authority of Singapore clarified about why Binance was placed on its Investor Alert List. The authorities said FTX was not licensed in Singapore and that it operates offshore. Meanwhile, latest reports suggest that Binance is being investigated by the Singapore police in connection with rule breach. As per a Bloomberg report, the Singapore Police Force is looking into Binance’s potential breach of local payment services rules.

The post After FTX Collapse, Binance Faces Fresh Probe In Singapore appeared first on CoinGape.

This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.

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