HONG KONG, Dec 13 (Reuters): The Singapore affiliate of Binance, one of the world's largest cryptocurrency exchanges, said on Monday it will withdraw its local licence application and wind down its digital payment token business in the broadly crypto-friendly city-state.
The company, which has come under growing scrutiny globally, did not give a reason for its decision beyond "strategic, commercial and developmental" considerations and said it would refocus the local unit's operations on becoming a blockchain innovation hub.
Already a subscriber? Log in
Get 20% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
