MAS Puts Binance.com on Investor Alert List

Fazzaco learned that the Monetary Authority of Singapore (MAS), the top financial regulator, has put Binance.com on its Investor Alert List. This list comprises names of companies or organizations that are unregulated and might be perceived as licensed by MAS.

Binance.com, rather than the exchange's Singaporean platform, Binance.sg, is listed. It is unclear whether Binance.sg will be classified similarly.

The MAS "is of the view that Binance, the operator of Binance.com may be in breach of the Payment Services Act for carrying on the business of providing payment services to, and soliciting such business from Singapore residents without an appropriate licence," it said in response to questions from Bloomberg.

Binance offers its services in the city-state through its local platform Binance.sg, which is operated by Binance Asia Services Pte. Ltd. The MAS is currently reviewing the local entity's license applications under the Payment Services Act, allowing the company to operate under an exemption for a specified period.

Fazzaco recently reported that Binance will be discontinuing NOK trading pairs, NOK payment options and Norwegian language website support​.