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Binance Singapore withdraws crypto license application
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Crypto exchange Binance has withdrawn its license application for pursuing digital payment token (DPT) services in Singapore. Starting today, Binance.sg has stopped onboarding new users and will not allow Singaporeans to deposit cryptocurrencies or fiat on the exchange.
By Feb 13, 2022, Binance plans to “wind down” all services that relate to dealing with cryptocurrency tokens. However, the exchange announced to take no responsibility for the users’ assets after the self-determined deadline:
Binance Singapore users are currently allowed to buy and sell crypto using their existing assets until Jan. 12, 2022. Starting Jan. 13, Binance.sg users will be barred from buying and selling crypto. During this phase:
Binance plans to make further
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