Cryptocurrency Exchange Binance Applies For License In Singapore

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According to a report on Tech in Asia, an online tech media company, cryptocurrency exchange platform Binance has applied for a license to operate in Singapore under the city-state's new payments law.

The report quotes Changpeng Zhao, the company's CEO saying that “We submitted the application pretty fast. Binance's Singapore entity has been in close touch with the local regulators, and they have always been open-minded.”

The story was reported in Bloomberg who spoke to Changpeng via telephone.

Tech in Asia also wrote "Commencing last month, the new Payment Services Act provides licenses for various payment providers as well as platforms dealing with cryptocurrencies such as bitcoin and ether. The law also seeks to address cybersecurity risks, money laundering, and terrorism financing."

Read the full story Binance applies for crypto license in Singapore on Tech in Asia's website.

You can also read the Bloomberg story Binance Applied for Singapore’s New Crypto License, CEO Says as well.