Singapore MAS to Follow Up ‘As Appropriate’ with the Local Unit of Binance
- Binance Asia Services is currently operating under a grace period in Singapore.

In fact, Binance Asia Services, a firm from the exchange based in Singapore, operates under a grace period while the watchdog reviews its application for an operation license to provide digital asset services. However, it is not the only crypto exchange under such a grace period under the MAS ruling, the regulator said. As stated in a document from the MAS, Binance Asia Services is registered with the aim of “providing digital payment token service,” which is the same legal figure that Gemini and Bithumb had already applied before the watchdog.
“It is important to note that we take a collaborative approach in working with regulators, and we take our compliance Obligations Obligations In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you or will owe you money that is considered an obligation. Different Types of ObligationsBonds, banknotes, and coins are examples of obligations because they assure users that they are accredited with the face value of that item. Obligations play a considerable role in personal finance and should be included in every budget. While every budget is different from one another, individuals can use the Financial Obligation Ratio (FOR) that is published quarterly by the Federal Reserve Board as a good reference point on how to best structure individual budgets. For those in the process of retirement planning, obligations should be scrutinized with a wide scope.These should include typical financial obligations such as mortgage payments and healthcare expenses that may incur. In trading, obligations are dealt in the form of put options and short selling or they may refer to the selling of shares on the next trading day after they were purchased in delivery. When obligations fail to be met and legal proceedings have begun, the severity of the punishment set forth is primarily determined by the terms of the contract although juror and judge intervention may lessen the obligations that must be met to fulfill the contract. In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you or will owe you money that is considered an obligation. Different Types of ObligationsBonds, banknotes, and coins are examples of obligations because they assure users that they are accredited with the face value of that item. Obligations play a considerable role in personal finance and should be included in every budget. While every budget is different from one another, individuals can use the Financial Obligation Ratio (FOR) that is published quarterly by the Federal Reserve Board as a good reference point on how to best structure individual budgets. For those in the process of retirement planning, obligations should be scrutinized with a wide scope.These should include typical financial obligations such as mortgage payments and healthcare expenses that may incur. In trading, obligations are dealt in the form of put options and short selling or they may refer to the selling of shares on the next trading day after they were purchased in delivery. When obligations fail to be met and legal proceedings have begun, the severity of the punishment set forth is primarily determined by the terms of the contract although juror and judge intervention may lessen the obligations that must be met to fulfill the contract. Read this Term very seriously. We are actively keeping abreast of changing policies, rules and laws in this new space,” Binance commented in an email quoted by Bloomberg. Still, the MAS warned that it is seeking to apply “robust standards” in reviewing each crypto-related application by considering many factors. Furthermore, the regulator stated that many applicants did not pass their registration filings successfully because of the Payment Services Act enacted last year.
Binance Legal Issues with Regulators
Times have not been easy for Binance in terms of regulatory affairs. Today, Thailand’s Securities and Exchange Commission (SEC) filed a criminal complaint against the cryptocurrency exchange for illegally offering services in the country. These violations generally attract jail terms between two to five years, along with a fine of 200,000 baht to 500,000 baht. In addition, a further daily fine of up to 10,000 baht will be imposed if the contravention continues.
The regulator detailed that it issued a warning letter against Binance on April 5, but the exchange allegedly did not provide any response.
In fact, Binance Asia Services, a firm from the exchange based in Singapore, operates under a grace period while the watchdog reviews its application for an operation license to provide digital asset services. However, it is not the only crypto exchange under such a grace period under the MAS ruling, the regulator said. As stated in a document from the MAS, Binance Asia Services is registered with the aim of “providing digital payment token service,” which is the same legal figure that Gemini and Bithumb had already applied before the watchdog.
“It is important to note that we take a collaborative approach in working with regulators, and we take our compliance Obligations Obligations In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you or will owe you money that is considered an obligation. Different Types of ObligationsBonds, banknotes, and coins are examples of obligations because they assure users that they are accredited with the face value of that item. Obligations play a considerable role in personal finance and should be included in every budget. While every budget is different from one another, individuals can use the Financial Obligation Ratio (FOR) that is published quarterly by the Federal Reserve Board as a good reference point on how to best structure individual budgets. For those in the process of retirement planning, obligations should be scrutinized with a wide scope.These should include typical financial obligations such as mortgage payments and healthcare expenses that may incur. In trading, obligations are dealt in the form of put options and short selling or they may refer to the selling of shares on the next trading day after they were purchased in delivery. When obligations fail to be met and legal proceedings have begun, the severity of the punishment set forth is primarily determined by the terms of the contract although juror and judge intervention may lessen the obligations that must be met to fulfill the contract. In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you or will owe you money that is considered an obligation. Different Types of ObligationsBonds, banknotes, and coins are examples of obligations because they assure users that they are accredited with the face value of that item. Obligations play a considerable role in personal finance and should be included in every budget. While every budget is different from one another, individuals can use the Financial Obligation Ratio (FOR) that is published quarterly by the Federal Reserve Board as a good reference point on how to best structure individual budgets. For those in the process of retirement planning, obligations should be scrutinized with a wide scope.These should include typical financial obligations such as mortgage payments and healthcare expenses that may incur. In trading, obligations are dealt in the form of put options and short selling or they may refer to the selling of shares on the next trading day after they were purchased in delivery. When obligations fail to be met and legal proceedings have begun, the severity of the punishment set forth is primarily determined by the terms of the contract although juror and judge intervention may lessen the obligations that must be met to fulfill the contract. Read this Term very seriously. We are actively keeping abreast of changing policies, rules and laws in this new space,” Binance commented in an email quoted by Bloomberg. Still, the MAS warned that it is seeking to apply “robust standards” in reviewing each crypto-related application by considering many factors. Furthermore, the regulator stated that many applicants did not pass their registration filings successfully because of the Payment Services Act enacted last year.
Binance Legal Issues with Regulators
Times have not been easy for Binance in terms of regulatory affairs. Today, Thailand’s Securities and Exchange Commission (SEC) filed a criminal complaint against the cryptocurrency exchange for illegally offering services in the country. These violations generally attract jail terms between two to five years, along with a fine of 200,000 baht to 500,000 baht. In addition, a further daily fine of up to 10,000 baht will be imposed if the contravention continues.
The regulator detailed that it issued a warning letter against Binance on April 5, but the exchange allegedly did not provide any response.