Singapore Defends Itself Against Binance Stance Post FTX Fallout

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The Monetary Authority of Singapore defended its position regarding the defunct cryptocurrency exchanges FTX and Binance.com.

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Between the two, there was a "clear difference" in that Binance.com "actively solicited" users in the city-state.

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The MAS said in a statement on Monday that FTX wasn't.

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In response to "questions and misconceptions" that local users who interacted with FTX could be safeguarded

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The FTX fiasco has taught us that trading in any cryptocurrency, on any platform, is risky, according to the MAS.

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Customers who transact in cryptocurrencies are not protected. They might lose everything they have.

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Singapore regulator says it is reviewing the application from FTX Unit.

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The MAS also disclosed that Binance.com is the subject of an investigation by the nation's white-collar police.

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