Binance to end SGD trading pairs after Singapore regulators' warning

Binance will end SGD trading pairs and SGD payment options in Singapore as of Friday, Sept. 10, 2021, as it "constantly evaluates its product and service offerings to remain compliant with local regulations," the company said in a statement. It will also remove its app from Singapore iOs and Google Play stores. The move comes days after the Monetary Authority of Singapore said the company may be violating the country's Payment Services Act. "Please note we are also not operating any official Telegram or online communication channels in Singapore," Binance said on its website. The cryptocurrency exchange has come under increasing regulatory pressure in recent months. In July, it announced that it's winding down its futures and derivatives product in Germany, Italy, and the Netherlands and it ended support for purchasing stock tokens after the Hong Kong Securities and Futures Commission said Binance isn't licensed or regulated in the city.