singapore attack binance.com - page 2.

Rengga Jati

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Actually, Binance has its solutions, besides withdrawing their assets given in one month, Binance also suggests the citizens use Binance.sg.
It is not about an attack from the Singapore government, due to the changing policy and also in order to respect the Regulated Payments Services in that country, Binance has done some evaluations about that and toke the solution.

Quote

Users in Singapore can register for an account on Binance.sg, which is operating under the relevant exemption granted by the MAS.

Source: https://www.binance.com/en/support/announcement/34c6c158d03a4877a4e13cf0927468bc
Other source related to this change: https://www.binance.com/en/support/announcement/a38b8ee33ba847f9b91562b8709fe539

I am not sure that this will influence enough the price of BNB. They can still trade but using the platform of Binance.sg and so far, there is no significant impact on the price of BNB because of that change.

maju69

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Even though Singapore was predicted to be a cryptocurrency-friendly country and their support for planning as a country that legalized cryptocurrencies. But since I don't really follow news developments in the country, I'm still quite clueless about some of the news that Binance Exchange has recently received.

7788bitcoin

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Quote from: Silver80 on September 29, 2021, 08:17:57 PM

Binance.com's time has ended in Singapore they will stop the deposit feature, even though Binance, which is the largest crypto exchange platform in the world based on trading volume, members are given 1 month to withdraw.
This clearly affects BNB

This is not surprising as majority of the countries have taken the stance against Binance. If a government ask Binance to be transparent they always run away from that country and ask the people to withdraw their coins because they cannot further conduct business with them and if they keep running like that what would happen to them, they will keep running until they allow a few countries who will be deemed as safe heavens.

asus09

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Quote from: Silver80 on September 29, 2021, 08:17:57 PM

Binance.com's time has ended in Singapore they will stop the deposit feature, even though Binance, which is the largest crypto exchange platform in the world based on trading volume, members are given 1 month to withdraw.
This clearly affects BNB
https://www.forbes.com/sites/zinnialee/2021/09/28/binance-to-ban-singapore-users-from-crypto-trading-and-buying-on-its-global-platform/?sh=6d074dd17e17

Not any effect and United State give new announcement with never banned anymore cryptocurrency again, most effective with United State announcement than Singapore want to attack Binance exchange. The member from Binance exchange not only from Singapore but around the world and many people still use this exchange platform for trading and investing.

devil2man

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I do not believe that binance will give up so easily to a market as rich and large as Singapore but i believe that it will try to adapt to the guidelines imposed by the government of Singapore to ensure that it can continue to allow users of this country to continue to enjoy all the services of the exchange

layoutph

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This is so bad for singaporeans. Singapore is a small nation but plenty of crypto-oriented individuals. I wish they will remove the mas banning of crypto deposits from that country.

Quote from: Silver80 on September 29, 2021, 08:17:57 PM

Binance.com's time has ended in Singapore they will stop the deposit feature, even though Binance, which is the largest crypto exchange platform in the world based on trading volume, members are given 1 month to withdraw.
This clearly affects BNB
https://www.forbes.com/sites/zinnialee/2021/09/28/binance-to-ban-singapore-users-from-crypto-trading-and-buying-on-its-global-platform/?sh=6d074dd17e17

jrrsparkles

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Quote from: DarkDays on September 30, 2021, 01:50:28 PM

Exactly this is how actually the ban works but still people get offends and starts selling their assets which affect the price and get collapsed for a while.

By the way, the centralization is going to be increased with all such regulations so make sure everyone is entering into banking system like structure or else you still have p2p and DEXs.

DarkDays

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Quote from: bitkanu on September 29, 2021, 09:26:08 PM

Your title must be changed, i have been reading this news and it seems like binance was trying to consider again to provide a service for the singaporean due to the regulation compliance. Binance was also stating that if binance has found a good reason to accept singaporean again and it will be opening its service in singapore. I guess this is just a temporary ban.

It seems that for now at least whether this is a temporary ban or not is still unclear.

Binance for sure would want to operate in as many countries as possible but ultimately it is up to each county's regulation on crypto. Given the circumstance this stands with the Singaporian government rather than Binance itself.

However, one would like to remain optimistic about the future of crypto regulation not just in a few countries but globally, and so only time will tell, though I have the feeling it will just end up something like this

Silver80

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Quote from: khiholangkang on September 29, 2021, 10:39:11 PM

Quote from: Silver80 on September 29, 2021, 08:17:57 PM

Binance.com's time has ended in Singapore they will stop the deposit feature, even though Binance, which is the largest crypto exchange platform in the world based on trading volume, members are given 1 month to withdraw.
This clearly affects BNB
https://www.forbes.com/sites/zinnialee/2021/09/28/binance-to-ban-singapore-users-from-crypto-trading-and-buying-on-its-global-platform/?sh=6d074dd17e17

Are you sure it affects BNB? I don't think so, the news was from a few days ago and look at today's BNB experiencing a fairly large increase.
Btw, isn't Binance's office in Singapore, so what if their service is stopped there?

yea, there will be a big sale from singaporeans, or there will be a large scale move, in the near future it will run for 1 month until they close the platform in october.

Quote from: nira09 on September 29, 2021, 10:58:25 PM

You worry too much. Looks like you didn't read the article you shared carefully, or maybe you haven't finished reading it yet. This problem is temporary, until regulatory issues are resolved everything will return to normal.
This news doesn't have much impact on BNB, you can see today BNB is growing Green again. I hope you don't sell your BNB after hearing this news.

what you say is true, but we don't know when they will immediately follow the regulations, it's not just about 1-2 days. It's been reported that Binance has been pumping for the past few days to maintain their stability over the next month, which will be difficult for them.

Silver80

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Quote from: bitkanu on September 29, 2021, 09:26:08 PM

Your title must be changed,

Quote from: Dave1 on September 29, 2021, 09:33:34 PM

The title is misleading,

Quote from: tbct_mt2 on September 30, 2021, 05:32:13 AM

The title misleads me

Do not judge a book by its cover

Quote from: robattfield on September 29, 2021, 10:31:28 PM

Content and title are causing great misunderstanding for readers.

Even you call yourself "robattfield" but still mean attack in the real sense, don't turn there,looks like we have a lot to learn "inappropriate words/figuratively."
Attacks can be regulations or rules, binance is attacked by regulations made by the monetary board in Singapore, so they have to stop operations within a month and can only make withdrawals cannot deposit and trade, after they make repairs according to their monetary board's request, This resulted in the result having to be pulled in the local Google Play Store and iOS Store, they gave the opportunity until October 26 to withdraw.
This enforcement is global by Binance company but not for local Binance.
they will return but who knows when, as long as it is not adjusted to the existing regulations, they will stop operating.

Quote from: goldkingcoiner on September 30, 2021, 01:08:40 AM

Wait so they ended in the deposit feature in Singapore but what about the withdrawal? I think people can still withdraw their cryptocurrency without much problems to their own wallets, unless I am mistaken? And anyway, as far as I know Singapore is more or less a tax haven so I would think that they aren't all that serious about future or present regulations regarding Binance...

maybe my answer answers your curiosity a little.

Quote from: MrcMrc on September 29, 2021, 11:34:36 PM

Ops did you just choose this title to get people's attention to this thread, you may have to change the title of the thread to represent the real content of the message.

there's nothing interesting if you don't read it and go through it.
I find it interesting to talk about the future of BNB over this incident.

goolesby

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according to an article I read that a MAS Spokesperson said the ban was likely because Binance, the operator of Binance.com violated the Payment Services Act for providing services without a compliant license. Binance did not apply for a license according to applicable regulations
obviously greatly affects the price of BNB because Binance is the largest cryptocurrency exchange platform in terms of volume. Binance has come under pressure from regulators around the world for fear of crypto being used in money laundering practices and the high risks faced by consumers.

Jackl87

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Quote from: Silver80 on September 29, 2021, 08:17:57 PM

Binance.com's time has ended in Singapore they will stop the deposit feature, even though Binance, which is the largest crypto exchange platform in the world based on trading volume, members are given 1 month to withdraw.
This clearly affects BNB
https://www.forbes.com/sites/zinnialee/2021/09/28/binance-to-ban-singapore-users-from-crypto-trading-and-buying-on-its-global-platform/?sh=6d074dd17e17

Singapore is a huge financial market that also has a lot of wealthy people that are potential investors into crypto but in the end singapore only has about 5,5 million citizens so i would say that the impact of this news will probably not be that big if you compare this to the news that china basically declared crypto as a whole as illegal and even then the prices only went down around 10-20%. Looking at the BNB price right now i would say that this news had no effect at all at the price as BNB is even in the profit zone today. I am pretty sure this news will be forgotten pretty soon and everything will go on as usual.

jrrsparkles

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Quote from: Silver80 on September 29, 2021, 08:17:57 PM

Binance.com's time has ended in Singapore they will stop the deposit feature, even though Binance, which is the largest crypto exchange platform in the world based on trading volume, members are given 1 month to withdraw.
This clearly affects BNB
https://www.forbes.com/sites/zinnialee/2021/09/28/binance-to-ban-singapore-users-from-crypto-trading-and-buying-on-its-global-platform/?sh=6d074dd17e17

Binance already changed their non KYC policy so I am sure that they are getting ready to accept the guidelines of countries so they can offer service and make more and more money. Many people already stated that this is just a temporary ban and its possibly they may reopen their service before that buffer time ends.

Spack17

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It looks like you haven't read the content carefully, mate. It says in short that Binance is ready for complying with Singapore regulatory body. They are going to do what they want to be able to continue working in the country and provide a better service to their people also. Binance wouldn't run the risk of being against their regulations. In case Singapore demands Binance to end its activities, it would be bad for Binance.

masterrex

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Quote from: Dave1 on September 29, 2021, 09:33:34 PM

The title is misleading, I don't know if you read the article you posted or not.

Binance has to comply with Singapore's regulatory board, that's why they have to stop and accept any deposits from Singaporean. There is no Singapore attacks Binance.com, on the contrary, Binance is trying it's best to follow every countries crypto framework and that includes Singapore's Monetary Authority of Singapore.

Binance is just trying to have a good reputation because I think it has something to do with their IPO that they might pull in the future.

I agree with that observation, mate, it was a misleading title because the Singapore authorities didn't attack Binance to discredit it, but only just imposing the regulatory requirements on the crypto exchange that's why they are temporarily ceasing its operation and give its users an ample time to withdraw their balances, and also Binance says that they are ready to comply with the requirements if necessary so IMO, Binance service will restore sooner or later.

coin-investor

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Quote from: Silver80 on September 29, 2021, 08:17:57 PM

Binance.com's time has ended in Singapore they will stop the deposit feature, even though Binance, which is the largest crypto exchange platform in the world based on trading volume, members are given 1 month to withdraw.
This clearly affects BNB
https://www.forbes.com/sites/zinnialee/2021/09/28/binance-to-ban-singapore-users-from-crypto-trading-and-buying-on-its-global-platform/?sh=6d074dd17e17

Not only affects BNB but Singaporeans who are trading Cryptocurrency and using Binance as their main trading platform, Binance is trying it;s best to be compliant with every country they are working on monetary board

Quote

Binance has taken a series of measures in an effort to comply to an evolving patchwork of regulations in different markets. The firm has been winding down its product offerings, stepping up customer verification procedures and expanding its team with staff who have regulatory compliance experience

These countries should understand that Cryptocurrency is here to stay and Binance is one of the major movers of the industry they should give the company a chance to prove itselves.

livingfree

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The actual about Binance to Singapore halting their operations for users there.

https://www.binance.com/en/support/announcement/34c6c158d03a4877a4e13cf0927468bc

But just like the US, they are launching binance.sg.

Quote from: https://www.binance.com/en/support/announcement/34c6c158d03a4877a4e13cf0927468bc

Users in Singapore may use Binance.sg for trading pairs for Bitcoin (BTC), Ethereum (ETH) and BNB currently and may expect more product releases in future. Binance.sg also provides SGD deposit and withdrawal functionality.]

kotajikikox

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Quote from: khiholangkang on September 29, 2021, 10:39:11 PM

Quote from: Silver80 on September 29, 2021, 08:17:57 PM

Binance.com's time has ended in Singapore they will stop the deposit feature, even though Binance, which is the largest crypto exchange platform in the world based on trading volume, members are given 1 month to withdraw.
This clearly affects BNB
https://www.forbes.com/sites/zinnialee/2021/09/28/binance-to-ban-singapore-users-from-crypto-trading-and-buying-on-its-global-platform/?sh=6d074dd17e17

Are you sure it affects BNB? I don't think so, the news was from a few days ago and look at today's BNB experiencing a fairly large increase.
Btw, isn't Binance's office in Singapore, so what if their service is stopped there?

Binance is a worldwide exchange and they can find office all over the world so i think there is no issue if their base is in singapore or now.

Quote from: tbct_mt2 on September 30, 2021, 05:32:13 AM

The title misleads me that Singapore launched new regulations to restrict users on Binance exchange. When I read the title of article, it is different. It is newly updated rule from Binance to restrict users from Singapore.

I think the global trend will be KYC, not only on Binance but also on all centralized exchanges. If you want to avoid it, use decentralized exchanges such as https://bisq.network/

Yes it seems to be rotate and "Binance Attack Singapore" Grin

but of course this will find effect i crypto and i believe it is a good thing , Look at the market now, it is growth .

tvplus006

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Quote from: Silver80 on September 29, 2021, 08:17:57 PM

...This clearly affects BNB

Binance promptly responds to all claims that are made about compliance with legislation in various countries of the world. This does not mean that Binance will simply stop providing cryptocurrency trading services in any country, they will simply make a re-order in their work and come back again. As for the BNB exchange coin, we see that the price of the coin has increased despite these restrictions.

tbct_mt2

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The title misleads me that Singapore launched new regulations to restrict users on Binance exchange. When I read the title of article, it is different. It is newly updated rule from Binance to restrict users from Singapore.

I think the global trend will be KYC, not only on Binance but also on all centralized exchanges. If you want to avoid it, use decentralized exchanges such as https://bisq.network/

Topic: singapore attack binance.com - page 2. (Read 365 times)