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Singapore's Binance bitcoin exchange has been shut down.

 

If you're a Singaporean, you won't be able to utilize Binance's cryptocurrency trading platform after Monday. A subsidiary of Binance has withdrawn its application for permission to run an authorized cryptocurrency exchange in Singapore. Company officials explained that they made the choice "in light of global strategic, commercial, and development issues." Binance, the world's largest cryptocurrency exchange, has announced plans to refocus its activities in Singapore as part of an effort to extend the worldwide ecosystem for cryptocurrencies. Singapore-based initiatives like as incubation programs, education, and investment opportunities will be investigated by the company. If all goes according to plan, Hg Exchange (HGX) will purchase an 18 percent stake in the company.

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