Download App
iOS & Android

Singapore’s Watchdog Says Binance Placed on Investor Alert List Over FTX Due to Unlicensed Activity

The MAS revealed Binance was placed on the IAL because it actively seeks Singaporean users and has features that could be misinterpreted to mean it is licensed by the regulator.

The Monetary Authority of Singapore (MAS) said it placed Binance on its Investor Alert List (IAL) and not the bankrupt FTX because the former is actively looking for users in the country, while the latter is not, according to a Nov. 21 statement.

The watchdog added that neither Binance nor FTX are licensed to operate in Singapore.

(By Oluwapelumi Adejumo)


All Comments

Recommended for you

  • Terra founder Do Kwon to be extradited to U.S.

    Terra founder Do Kwon will be extradited to the United States.
  • ABCDE: Viewing AI+Crypto from a Primary Market Perspective

    After more than a year since the release of ChatGPT, discussions about AI+Crypto have once again heated up in the market. AI is seen as one of the most important tracks in the bull market of 2024–2025. Even Vitalik Buterin himself published an article titled “The promise and challenges of crypto + AI applications,” exploring the possible directions for future AI+Crypto exploration.
  • Cointime February 3 News Express

    1. Ripple payment service "Ripple Payments" plans to return to the US market and launch targeted solutions
  • The District Quarterly — Q4 2023

    As mentioned in our previous edition, we’ve shifted to a vibrant quarterly publication rhythm, packed with enriching and extensive content. These quarterlies are carefully curated to bring you in-depth features and valuable insights, designed to elevate your journey in the ever-changing crypto landscape!
  • Rethinking fandom with onchain loyalty programs

    We love being recognized and getting something back, don't we? Cashback, points, discounts, or that exclusive status – traditional loyalty programs have always been a sweet deal for rewarding our purchases. They add a little extra spice to each transaction. What if these programs could go beyond perks? Imagine a world where brands don't just reward you but truly understand your needs, customizing products and experiences to fit you perfectly.
  • How Daft Punk Sold Techno to the World: A Map for Crypto

    You can listen to an audio version of the article by becoming a patron on Patreon. Preface: I was sitting in the coworking space at Zuconnect in Istanbul thinking I should maybe write about connecting Daft Punk to crypto when at that moment the song “One More Time” started playing through my headphones. I took this as a sign from the divine that this needed to be written. So here it is.
  • The promise and challenges of crypto + AI applications

    Many people over the years have asked me a similar question: what are the intersections between crypto and AI that I consider to be the most fruitful? It's a reasonable question: crypto and AI are the two main deep (software) technology trends of the past decade, and it just feels like there must be some kind of connection between the two. It's easy to come up with synergies at a superficial vibe level: crypto decentralization can balance out AI centralization, AI is opaque and crypto brings transparency, AI needs data and blockchains are good for storing and tracking data. But over the years, when people would ask me to dig a level deeper and talk about specific applications, my response has been a disappointing one: "yeah there's a few things but not that much".
  • FTX Was Never Really Bankrupt

    The prosecution in Sam Bankman-Fried’s criminal trial drilled into the jurors’ heads that FTX customer losses exceeded $8 billion, but never substantiated that claim. In reality, the crypto exchange had sufficient assets to make creditors whole all along – a fact that would likely change the public’s perception of its founder.
  • Mintellectual Property

    Copyright is dead, long live copyright. Two things are changing quickly for brands around the world: media creation and IP ownership. Media creation is being rapidly innovated thanks to AI models like MidJourney, Runway, and DALL·E. Powerful models mean everyday creatives can make market grade assets and seemingly authentic versions of critically acclaimed artwork, corporate advertisements, influencer content, or other viral materials.
  • Multi-Hit Wonders: Embracing Apps With Short Shelf Life

    The rise of scaled social platforms like Facebook, Instagram, and TikTok has made it increasingly challenging for newcomers to compete directly.