Binance will continue serving Singapore users through remote operations without possessing a Digital Payment Token (DPT) license from the Monetary Authority of Singapore (MAS). This decision comes after the MAS deadline requiring cryptocurrency businesses to obtain regulatory approval for offering digital payment token services.
Industry analysts indicate the regulatory development is expected to have minimal operational impact on Binance. The exchange will maintain remote accessibility for Singapore-based clients while complying with relevant operational constraints under MAS oversight.
The Monetary Authority of Singapore had mandated that all virtual asset service providers complete licensing requirements to operate within its jurisdiction. Binance’s continuation of remote services demonstrates its strategy to maintain market presence while navigating the evolving regulatory landscape.