singapore attack binance.com

[Silver80]

Binance.com's time has ended in Singapore they will stop the deposit feature, even though Binance, which is the largest crypto exchange platform in the world based on trading volume, members are given 1 month to withdraw.
This clearly affects BNB
https://www.forbes.com/sites/zinnialee/2021/09/28/binance-to-ban-singapore-users-from-crypto-trading-and-buying-on-its-global-platform/?sh=6d074dd17e17

[bitkanu]

Your title must be changed, i have been reading this news and it seems like binance was trying to consider again to provide a service for the singaporean due to the regulation compliance. Binance was also stating that if binance has found a good reason to accept singaporean again and it will be opening its service in singapore. I guess this is just a temporary ban. Singapore was not attacking binance but binance doesn't wanna take a big risk by no compliant with the regulation in singapore as crypto can be considered as speculative asset. We know that singapore was a crypto friendly country but the exchange site needs to comply with regulation on singapore to be able to run its service on singapore territory. Your title was making the readers became misleading about what happened with binance. I hope that binance will find a solution for this soon.

[Dave1]

The title is misleading, I don't know if you read the article you posted or not.

Binance has to comply with Singapore's regulatory board, that's why they have to stop and accept any deposits from Singaporean. There is no Singapore attacks Binance.com, on the contrary, Binance is trying it's best to follow every countries crypto framework and that includes Singapore's Monetary Authority of Singapore.

Binance is just trying to have a good reputation because I think it has something to do with their IPO that they might pull in the future.

[lumierre]

I see that there are more and more countries where binance stops offering its services. When there were some countries (UK, Belarus) it was not very dangerous, but now Binance stops working in China and Singapore, so big countries face it, what can be destructive for Binance, so I had better follow recent news about it and make conclusions. I have doubt even about Binance Smart Chain.

[robattfield]

Content and title are causing great misunderstanding for readers.
I have been following news about Binance banning Singaporean users from trading and buying cryptocurrencies on its global platform.
Overall, I personally think it's not a serious problem in the market and the announcement has been issued by Binance before.

[khiholangkang]

Binance.com's time has ended in Singapore they will stop the deposit feature, even though Binance, which is the largest crypto exchange platform in the world based on trading volume, members are given 1 month to withdraw.
This clearly affects BNB
https://www.forbes.com/sites/zinnialee/2021/09/28/binance-to-ban-singapore-users-from-crypto-trading-and-buying-on-its-global-platform/?sh=6d074dd17e17

Are you sure it affects BNB? I don't think so, the news was from a few days ago and look at today's BNB experiencing a fairly large increase.
Btw, isn't Binance's office in Singapore, so what if their service is stopped there?

[cabron]

Whether it's the other way around or not, it's still going to be related to the regulation of the Monetary Authority of Singapore. Binance wouldn't be limiting their users to whoever or whichever country you are from unless the authorities from such country will force them to abide by their laws. And then of course CZ as a legitimate businessman wants to make the operation legal.

But I'm sure this will make the Singaporeans stay on https://www.binance.sg/en

[nira09]

Binance.com's time has ended in Singapore they will stop the deposit feature, even though Binance, which is the largest crypto exchange platform in the world based on trading volume, members are given 1 month to withdraw.
This clearly affects BNB
https://www.forbes.com/sites/zinnialee/2021/09/28/binance-to-ban-singapore-users-from-crypto-trading-and-buying-on-its-global-platform/?sh=6d074dd17e17

You worry too much. Looks like you didn't read the article you shared carefully, or maybe you haven't finished reading it yet. This problem is temporary, until regulatory issues are resolved everything will return to normal.
This news doesn't have much impact on BNB, you can see today BNB is growing Green again. I hope you don't sell your BNB after hearing this news.

[JeffBrad12]

No ETA for how long the ban will happen but it seems like that if this could be forever. This is a big surprise for anyone. The pressure that was given by china was also giving impact to the exchange site that was giving its service to the country that has almost the same culture like china. Singapore was not attacking binance.com and im not sure whether binance with sg domain will be shutdown or not. If binance will be terminated its service on SG and its sg domain will be shutdown too.

This will be affecting the price movement of bnb but it will not be so big as so many people can still use alternative ways to trade BNB or another smartchain token through the swap service.The impact was not so big but this is enough to make people feel worry if there will be upcoming country that will be prohibited by binance to use its service again.

[MrcMrc]

Ops did you just choose this title to get people's attention to this thread, you may have to change the title of the thread to represent the real content of the message.
Singapore as a country has every right to place regulation on any exchange within its region so I don't see this as an attack but a policy that will binance exchange going forward.

[goldkingcoiner]

Binance.com's time has ended in Singapore they will stop the deposit feature, even though Binance, which is the largest crypto exchange platform in the world based on trading volume, members are given 1 month to withdraw.
This clearly affects BNB
https://www.forbes.com/sites/zinnialee/2021/09/28/binance-to-ban-singapore-users-from-crypto-trading-and-buying-on-its-global-platform/?sh=6d074dd17e17

Wait so they ended in the deposit feature in Singapore but what about the withdrawal? I think people can still withdraw their cryptocurrency without much problems to their own wallets, unless I am mistaken? And anyway, as far as I know Singapore is more or less a tax haven so I would think that they aren't all that serious about future or present regulations regarding Binance...

[Gayong88]

If I'm not mistaken CZ is the best graduate of the National University of Singapore 2015. The National University of Singapore is ranked 11th in the world, meaning he is very familiar with Singapore. I believe CZ is a person who can collaborate and adapt to the environment. meaning that the applicable terms and conditions set by the Monetary Authority of Singapore will be strictly adhered to and respected.

Regarding the news above, my view is that Binance itself with its BNB Konya will be safe and not too influential and also Binance is one of the largest exchanges in the world and has many users and is fundamentalist.

[tbct_mt2]

The title misleads me that Singapore launched new regulations to restrict users on Binance exchange. When I read the title of article, it is different. It is newly updated rule from Binance to restrict users from Singapore.

I think the global trend will be KYC, not only on Binance but also on all centralized exchanges. If you want to avoid it, use decentralized exchanges such as https://bisq.network/

[tvplus006]

...This clearly affects BNB

Binance promptly responds to all claims that are made about compliance with legislation in various countries of the world. This does not mean that Binance will simply stop providing cryptocurrency trading services in any country, they will simply make a re-order in their work and come back again. As for the BNB exchange coin, we see that the price of the coin has increased despite these restrictions.

[kotajikikox]

Binance.com's time has ended in Singapore they will stop the deposit feature, even though Binance, which is the largest crypto exchange platform in the world based on trading volume, members are given 1 month to withdraw.
This clearly affects BNB
https://www.forbes.com/sites/zinnialee/2021/09/28/binance-to-ban-singapore-users-from-crypto-trading-and-buying-on-its-global-platform/?sh=6d074dd17e17

Are you sure it affects BNB? I don't think so, the news was from a few days ago and look at today's BNB experiencing a fairly large increase.
Btw, isn't Binance's office in Singapore, so what if their service is stopped there?

Binance is a worldwide exchange and they can find office all over the world so i think there is no issue if their base is in singapore or now.

The title misleads me that Singapore launched new regulations to restrict users on Binance exchange. When I read the title of article, it is different. It is newly updated rule from Binance to restrict users from Singapore.

I think the global trend will be KYC, not only on Binance but also on all centralized exchanges. If you want to avoid it, use decentralized exchanges such as https://bisq.network/

Yes it seems to be rotate and "Binance Attack Singapore"  but of course this will find effect i crypto and i believe it is a good thing , Look at the market now, it is growth .

[livingfree]

The actual about Binance to Singapore halting their operations for users there.

https://www.binance.com/en/support/announcement/34c6c158d03a4877a4e13cf0927468bc

But just like the US, they are launching binance.sg.

Users in Singapore may use Binance.sg for trading pairs for Bitcoin (BTC), Ethereum (ETH) and BNB currently and may expect more product releases in future. Binance.sg also provides SGD deposit and withdrawal functionality.]

[coin-investor]

Binance.com's time has ended in Singapore they will stop the deposit feature, even though Binance, which is the largest crypto exchange platform in the world based on trading volume, members are given 1 month to withdraw.
This clearly affects BNB
https://www.forbes.com/sites/zinnialee/2021/09/28/binance-to-ban-singapore-users-from-crypto-trading-and-buying-on-its-global-platform/?sh=6d074dd17e17

Not only affects BNB but Singaporeans who are trading Cryptocurrency and using Binance as their main trading platform, Binance is trying it;s best to be compliant with every country they are working on monetary board

Binance has taken a series of measures in an effort to comply to an evolving patchwork of regulations in different markets. The firm has been winding down its product offerings, stepping up customer verification procedures and expanding its team with staff who have regulatory compliance experience

These countries should understand that Cryptocurrency is here to stay and Binance is one of the major movers of the industry they should give the company a chance to prove itselves.

[masterrex]

The title is misleading, I don't know if you read the article you posted or not.

Binance has to comply with Singapore's regulatory board, that's why they have to stop and accept any deposits from Singaporean. There is no Singapore attacks Binance.com, on the contrary, Binance is trying it's best to follow every countries crypto framework and that includes Singapore's Monetary Authority of Singapore.

Binance is just trying to have a good reputation because I think it has something to do with their IPO that they might pull in the future.

I agree with that observation, mate, it was a misleading title because the Singapore authorities didn't attack Binance to discredit it, but only just imposing the regulatory requirements on the crypto exchange that's why they are temporarily ceasing its operation and give its users an ample time to withdraw their balances, and also Binance says that they are ready to comply with the requirements if necessary so IMO, Binance service will restore sooner or later.

[Spack17]

It looks like you haven't read the content carefully, mate. It says in short that Binance is ready for complying with Singapore regulatory body. They are going to do what they want to be able to continue working in the country and provide a better service to their people also. Binance wouldn't run the risk of being against their regulations. In case Singapore demands Binance to end its activities, it would be bad for Binance.

[jrrsparkles]

Binance.com's time has ended in Singapore they will stop the deposit feature, even though Binance, which is the largest crypto exchange platform in the world based on trading volume, members are given 1 month to withdraw.
This clearly affects BNB
https://www.forbes.com/sites/zinnialee/2021/09/28/binance-to-ban-singapore-users-from-crypto-trading-and-buying-on-its-global-platform/?sh=6d074dd17e17

Binance already changed their non KYC policy so I am sure that they are getting ready to accept the guidelines of countries so they can offer service and make more and more money. Many people already stated that this is just a temporary ban and its possibly they may reopen their service before that buffer time ends.