{"id":380340,"date":"2021-12-13T11:14:43","date_gmt":"2021-12-13T08:14:43","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/binance-singapore-withdraws-crypto-license-application\/"},"modified":"2021-12-13T11:14:43","modified_gmt":"2021-12-13T08:14:43","slug":"binance-singapore-withdraws-crypto-license-application","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/binance-singapore-withdraws-crypto-license-application\/","title":{"rendered":"# Binance Singapore withdraws crypto license application"},"content":{"rendered":"<p>&#8220;<strong># Binance Singapore withdraws crypto license <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\">app<\/a>lication <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvMzlhMTA4ZTAtYmNkNS00YzljLWEwOTUtY2M5YzdhYTc1YmE2LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Crypto exchange Binance has withdrawn its license application for pursuing digital payment token (DPT) services in Singapore.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.<\/p>\n<p>By Feb 13, 2022, Binance plans to \u201cwind down\u201d all services that relate to dealing with cryptocurrency tokens. However, the exchange <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/binancesingapore.zendesk.com\/hc\/en-us\/articles\/4416402912525-Announcement-to-all-Binance-sg-users\">announced<\/a> to take no responsibility for the users\u2019 assets after the self-determined deadline:<\/p>\n<blockquote><p>\u201cWith im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te effect, users must start to make plans to withdraw their crypto and fiat from Binance.sg. Accounts of registered users who have not passed KYC will be suspended.\u201d<\/p><\/blockquote>\n<p>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:<\/p>\n<blockquote><p>\u201cUsers can only withdraw and move their crypto to third-party platforms or crypto wallets; and\/or withdraw their SGD. All accounts must be closed by 13 February 2022.\u201d<\/p><\/blockquote>\n<p>Binance plans to make further arrangements to release users\u2019 assets upon an official request to the company\u2019s customer service.<\/p>\n<p>Following the final date, Binance will not allow any Singapore users to close positions or withdraw crypto assets. \u201cThe locked crypto assets will be held in an escrow account and your fiat assets will be transferred to your StraitsX Personal Account,\u201d the announcement read.<\/p>\n<blockquote><p>\u201cWe recommend that you take action as soon as possible before the deadline for account closure (13 February 2022). Please note that BAS will not be held responsible for any losses that result from your failure to withdraw your assets and close your account by 13 February 2022.\u201d<\/p><\/blockquote>\n<p>Binance has not yet responded to Cointelegraph\u2019s request for comment.<\/p>\n<p><strong>Related: <\/strong><strong><em>Binance reportedly in talks to launch crypto exchange in Indonesia<\/em><\/strong><\/p>\n<p>Despite the ongoing regulatory scrutiny, Binance continues to explore new jurisdictions for setting up localized crypto exchanges.\u00a0<\/p>\n<p>Binance is reportedly in talks with Indonesia\u2019s richest family, the Hartonos, for launching an exchange service. According to a Bloomberg report, Binance may soon finalize a crypto venture with Hartonos-controlled PT Bank Central Asia (BCA).<\/p>\n<p>If approved, the new BCA partnership will allow for the launch of a second crypto venture for Binance in Indonesia. The crypto exchange is also planning to expand to the United Kingdom in the next six to 18 months amid regulatory resistance.<\/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-singapore-withdraws-crypto-license-application\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Binance Singapore withdraws crypto license application &#8221; 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 \u201cwind down\u201d&#8230;<\/p>\n","protected":false},"author":1,"featured_media":380341,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvMzlhMTA4ZTAtYmNkNS00YzljLWEwOTUtY2M5YzdhYTc1YmE2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,75014,74862,74894,74863,74860,74355,117,70934,5012],"class_list":["post-380340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-binance","tag-bitcoin","tag-blockchain","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-adoption","tag-business","tag-regulation","tag-singapore"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/380340","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=380340"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/380340\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/380341"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=380340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=380340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=380340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}