cryptonews 2025-07-02 02:24:34

Binance Keeps Remote Staff in Singapore Despite Crypto Licensing Crackdown: Report

Binance reportedly plans to retain hundreds of remote workers in Singapore, even as the city-state moves to tighten rules on digital-asset firms offering services overseas without a license. The Monetary Authority of Singapore (MAS) has given crypto firms incorporated locally but targeting offshore markets until June 30 to either secure a license or halt operations. The directive, aimed at strengthening regulatory oversight, has already prompted exchanges like Bitget and Bybit to consider relocating staff abroad . However, the new rules are not expected to disrupt Binance’s local operations, Bloomberg reported Wednesday. Hundreds of Singapore-based Binance employees, most of whom work remotely, will not need to relocate as their roles are largely internal and non-customer facing, the report said. Over 400 Binance Staff Still in Singapore, Focused on Back-Office Functions Bloomberg’s analysis of LinkedIn profiles shows more than 400 individuals list Singapore as their location while working for Binance. According to Bloomberg, despite Singapore's tightening regulation of unlicensed crypto businesses, Binance still plans to retain hundreds of remote workers in Singapore. These employees are mainly engaged in back-end compliance, human resources, data analysis and technical… — Wu Blockchain (@WuBlockchain) July 1, 2025 According to the outlet, most Singapore-based roles focus on internal functions such as compliance, human resources, data analytics and technology. The absence of a formal office setup further distances these employees from regulatory scrutiny. While Singapore has built a reputation as a leading Asian hub for digital assets, its regulators have grown increasingly cautious following several high-profile crypto failures in 2022, including the collapse of hedge fund Three Arrows Capital. New MAS Rule Targets Local Entities, But Binance’s Structure Keeps It Outside Scope The latest rule draws a clear boundary. Firms incorporated in Singapore and offering token services abroad must now comply with local licensing requirements. However, Binance appears to fall outside the direct scope of this regulation. The company has no official headquarters and describes itself as “remote-first.” In addition, the MAS provided further clarification. Remote employees based in Singapore will not trigger licensing requirements if they work for a foreign firm. This applies only when the firm serves customers outside Singapore. The exemption falls under the Financial Services and Markets Act 2022. Despite being placed on MAS’ Investor Alert List since 2021, Binance has not exited Singapore entirely. The listing effectively bars it from serving local customers. However, the company continues to operate in a legal grey area. Yet for now, its Singapore workforce looks set to remain in place, showing how regulatory enforcement continues to grapple with the borderless nature of global crypto operations. The post Binance Keeps Remote Staff in Singapore Despite Crypto Licensing Crackdown: Report appeared first on Cryptonews .

En Okunan haberler

Countdown Begins: Ripple’s XRP Escrows Nearin...
2025-07-06
Bitcoin Liquidity Map Identifies $107K And $1...
2025-07-06
Bitcoin Must Hold $106,000 And $98,000 To Avo...
2025-07-06
Summer’s top crypto picks: BTC is too expensi...
2025-07-06
XRP Price Prediction: Is Consolidation Over?...
2025-07-06
Shiba Inu Burn Rate Skyrockets 10,786%: Big P...
2025-07-06
Golden Visa Spurs Toncoin’s Meteoric Rise in...
2025-07-06
Bitcoin Price Analysis: Independence Day Week...
2025-07-06

Alakalı haberler

Satoshi stirs, FTX looks abroad, Brazil central ba...
06 Jul 2025
Why FTX creditors in 49 countries may be cut from...
06 Jul 2025
The Watch List for the New Week’s Macroeconomic Ou...
06 Jul 2025
Toncoin explodes 12% in 2 hours on the back of UAE...
06 Jul 2025
BRICS finance ministers band together in call to r...
06 Jul 2025
Ethereum Proposal EIP-7983 May Introduce Gas Usage...
06 Jul 2025

Feragatnameyi okuyun : Burada sunulan tüm içerikler web sitemiz, köprülü siteler, ilgili uygulamalar, forumlar, bloglar, sosyal medya hesapları ve diğer platformlar (“Site”), sadece üçüncü taraf kaynaklardan temin edilen genel bilgileriniz içindir. İçeriğimizle ilgili olarak, doğruluk ve güncellenmişlik dahil ancak bunlarla sınırlı olmamak üzere, hiçbir şekilde hiçbir garanti vermemekteyiz. Sağladığımız içeriğin hiçbir kısmı, herhangi bir amaç için özel bir güvene yönelik mali tavsiye, hukuki danışmanlık veya başka herhangi bir tavsiye formunu oluşturmaz. İçeriğimize herhangi bir kullanım veya güven, yalnızca kendi risk ve takdir yetkinizdedir. İçeriğinizi incelemeden önce kendi araştırmanızı yürütmeli, incelemeli, analiz etmeli ve doğrulamalısınız. Ticaret büyük kayıplara yol açabilecek yüksek riskli bir faaliyettir, bu nedenle herhangi bir karar vermeden önce mali danışmanınıza danışın. Sitemizde hiçbir içerik bir teklif veya teklif anlamına gelmez