Binance Stops Offering Services in Malaysia and South Korea

Fazzaco learned that Binance, a leading Blockchain ecosystem and digital asset exchange, is terminating almost all the local services in Malaysia and South Korea.

Wanna be the Next Cover Person of Fazzaco Magazine?​

The exchange detailed that it has stopped offering trading with local fiats and terminated taking deposits with Malasian ringgit and Korean won.

"Our aim is to create a sustainable ecosystem around blockchain technology and digital assets," the crypto exchange noted in the official announcement.

"Binance welcomes developments to our industry's regulatory framework as they pose opportunities for the market players to have greater collaboration with the regulators. We are committed to working constructively in policy-making that seeks to benefit every user."

Fazzaco recently reported that Binance has restricted its derivatives products offerings to users based in Hong Kong.