The world's top cryptocurrency exchange by trading volume is hoping to get the official green light to operate in Singapore.
According to a report from Bloomberg on Sunday, the firm's CEO and co-founder Changpeng "CZ" Zhao said in an interview that an application has already been submitted to the island state's authorities under new legislation passed in late January.
“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,” CZ told Bloomberg.
The updated Payments Services Act brings what are termed digital payment token (DPT) services – covering all crypto-based businesses and exchanges plying their trade in Singapore – under current anti-money laundering (AML) and counterterrorist-financing (CTF) rules. Read More...