Singapore, South Africa: The latest countries warn of Crypto Exchange Binance - Regulation Bitcoin News
Singapore, South Africa: The latest countries warn of Crypto Exchange Binance - Regulation Bitcoin News
The list of supervisory authorities who warn that Binance is illegal in their jurisdiction continues to grow. The authorities in Singapore and South Africa have recently warned that the global cryptocurrency exchange may violate their local laws.
South Africa's financial supervisory authority warns of Binance
The South African financial supervisory authority published a message about Binance on Friday, which means:
The Financial Sector Conduct Authority (FSCA) warns the public to be careful and vigilant when dealing with the Binance Group, since it is not authorized to finance financial advice or mediation services in the sense of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act) in South Africa.
The message describes the Binance Group as "an international company based on the Seychelles, which has a telegram group, which can join the South African public to gain access to their cryptocurrency exchange platform".
In addition, the supervisory authority found that "crypto -related investments are currently not regulated by the FSCA or another in South Africa".
The Monetary Authority of Singapore (MAS) calls on Binance to hire the provision of payment services
In Singapore, Binance is also in trouble. The Monetary Authority of Singapore (MAS), the central bank of the country, which supervises the country's crypto sector
MAS has checked the operation of binance.com and believes that Binance, the operator of Binance.com, may violate the Payment Services Act. The central bank added: "Binance is obliged to cease payment services ... for residents of Singapore and no longer ask for such business of residents of Singapore." The MAS has also included Binance.com in her investor Alert List and warned consumers that the company is not authorized to offer payment services in Singapore. Binance Asia Services (BAS), a separate unit that runs binance.sg, has applied for a license from the central bank. Last week Binance announced that it A former regulatory authority as a new CEO for its shops in Singapore. Binance has set itself the goal of “becoming a leading company in compliance with legal regulations” while it develops into a financial service company. The global crypto exchange has recently come into focus on many supervisory authorities, including in the UK, the Netherlands, Thailand, Malaysia, Japan, Germany, Hong Kong and Lithuania. They claimed that Binance had operated in their jurisdiction without permission. What do you think of all these supervisory authorities who warn that Binance is operated without permission? Let us know in the comment area below. Bedy verification : Shutterstock, Pixabay, Wiki Commons