{"id":344853,"date":"2021-09-27T13:55:49","date_gmt":"2021-09-27T10:55:49","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/binance-blocks-fiat-deposits-and-spot-crypto-trading-for-singapore-users\/"},"modified":"2021-09-27T13:55:49","modified_gmt":"2021-09-27T10:55:49","slug":"binance-blocks-fiat-deposits-and-spot-crypto-trading-for-singapore-users","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/binance-blocks-fiat-deposits-and-spot-crypto-trading-for-singapore-users\/","title":{"rendered":"# Binance blocks fiat deposits and spot crypto trading for Singapore users"},"content":{"rendered":"<p>&#8220;<strong># Binance blocks fiat deposits and spot crypto trading for Singapore users <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvOWUyYjFmNzktMGE1My00OGZiLTk1NGMtYjk0MDVhMDkyMDUyLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Binance has announced some changes to its crypto trading services for customers in Singapore.<\/p>\n<p>According to a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.binance.com\/en\/support\/announcement\/34c6c158d03a4877a4e13cf0927468bc?ref=JLI1VBLA&amp;utm_source=BinanceTwitter&amp;utm_medium=GlobalSocial&amp;utm_campaign=GlobalSocial\">statement<\/a> on its website published on Monday, Singapore-based users will be geo-fenced from certain account functions on the Binance.com website.<\/p>\n<p>Binance users in Singapore will no longer have access to fiat deposits, crypto spot trading, liquid swap and crypto purchases via fiat channels on the website.<\/p>\n<p>\u201cWe will be restricting Singapore users in respect of the Regulated Payments Services in-line with our commitment to compliance,\u201d the statement added.<\/p>\n<p>Based on the new directive, Binance users in Singapore have been urged to cease all related activities impacted by the announcement and to withdraw their fiat and crypto holdings to avoid any disputes.<\/p>\n<p>Monday\u2019s announcement is the latest restriction imposed by Binance on its customers in Singapore. As previously reported by Cointelegraph, Binance initially rolled back some of its product offerings in the city-state.<\/p>\n<p>At the time, the crypto exchange giant blocked Singapore dollar-denominated crypto trading following warnings from the Monetary Authority of Singapore that the platform had violated local payment laws. A similar action was also taken in South Korea back in August, with the platform halting Korean won-denominated trading.<\/p>\n<p>Binance also blocked users in Singapore from <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">download<\/a>ing its mobile platform from the Google and Apple app stores.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Binance incapable of effective supervision, British regulator states<\/em><\/strong><\/p>\n<p>Binance has seen significant regulatory scrutiny in many jurisdictions across the globe. Consequently, the exchange has been forced to discontinue some of its services in several countries.<\/p>\n<p>Earlier in September, Binance stated that it will stop crypto futures and options trading in Australia, with users in the country given 90 days to close their positions.<\/p>\n<p>Binance has sought to smoothen these regulatory wrinkles by upscaling its customer identification compliance protocols. <\/p>\n<p>Meanwhile, Binance CEO Changpeng Zhao has stated the company\u2019s intention to comply with regulatory demands while also announcing plans for Binance.US \u2014 the exchange\u2019s United States arm \u2014 to have gone public by 2024.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/binance-blocks-fiat-deposits-and-spot-crypto-trading-for-singapore-users\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Binance blocks fiat deposits and spot crypto trading for Singapore users &#8221; Binance has announced some changes to its crypto trading services for customers in Singapore. According to a statement on its website published on Monday, Singapore-based users will be geo-fenced from certain account functions on the Binance.com website. Binance users in Singapore will&#8230;<\/p>\n","protected":false},"author":1,"featured_media":344854,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvOWUyYjFmNzktMGE1My00OGZiLTk1NGMtYjk0MDVhMDkyMDUyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,74863,74860,70934,5012],"class_list":["post-344853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-regulation","tag-singapore"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/344853","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=344853"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/344853\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/344854"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=344853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=344853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=344853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}