coindesk.com
The Monetary Authority of Singapore issued an investor alert for Binance’s global website, according to the central bank and regulator’s site.
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The list includes entities that are unregulated by the MAS, but may be erroneously perceived as licensed or regulated, the authority said.
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MAS said in early July that it would “follow up” with Binance’s Singapore entity, which at the time was waiting for the review of its license application.
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In late August, Binance hired Richard Teng, the former CEO of Abu Dhabi’s financial watchdog, to head its Singapore operations, possibly to curb the regulatory tide against it.
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Binance has been in regulators’ cross-hairs all around the world in recent months, including in Japan and the U.K.
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Singapore’s 2019 Payment Services Act requires crypto companies to be licensed to operate in the city-state.
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The law has been perceived as largely positive toward the industry, since it creates a comprehensive legal framework under which crypto companies can operate. Hundreds of companies have applied for the licenses, and MAS has started granting the coveted certifications.
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On Wednesday, it issued a digital token payments license to local fintech firm FOMO Pay.
READ MORE: Singapore Grants Digital Token Payment Licenses to FOMO Pay