Binance Faces Examination In Singapore Following The Collapse Of FTX

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Binance Faces Examination In Singapore Following The Collapse Of FTX

The collapse of FTX crypto exchange is brewing several reactions both within and outside the crypto industry, such as the recent probe on Binance. First, from the sudden meltdown of the firm, an insolvency contagion erupted among several exchange investors. Now, more bankrupt companies increased.

केही नियामकहरूले FTX को पतनमा अनुसन्धान खोलेका छन्। ध्वस्त प्लेटफर्मको अपरेसनहरू वरपरका चौंकाउने खुलासाहरूले अब थप नियामक नियन्त्रणहरूको कारणको रूपमा सेवा गर्दछ। थप रूपमा, केही वाचडगहरूले उनीहरूको अनुसन्धानलाई उनीहरूको क्षेत्रमा सञ्चालन गर्ने अन्य क्रिप्टो एक्सचेन्जहरूमा विस्तार गरेका छन्।

Singapore Police Force Investigates Binance

एक हाल मा रिपोर्ट, the world’s largest crypto exchange Binance is facing a new probe in Singapore. The financial crime investigation unit of the Singapore Police Force handles the investigation.

Before, some people expressed doubts regarding the treatment Binance received in Singapore. They believe the country offers preferential treatment to Binance compared to FTX.

The collapse of FTX started with a drama with Binance. The latter announced its decision to liquidate all its holdings of FTX Token (FTT). Following its announcement, FTT started plummeting and has never recovered since then.

Binance Probe Linked To A Breach Of Rules On Local Payment Services

प्रतिवेदनका अनुसार स्थानीय भुक्तानी सेवाहरूमा नियम उल्लङ्घन गरेको आरोपमा छानबिन भइरहेको छ। सिंगापुरको मौद्रिक प्राधिकरणले देशको वित्तीय नियामकले मुद्दालाई पुलिस बलको अपराध इकाईमा सार्दा अनुसन्धान बढेको खुलासा गरेको छ। प्रहरीले अनुसन्धान पूरा नभएसम्म सबै विचाराधीन टिप्पणीहरू रोक्ने बताएको छ।

This probe from the Singapore police is compounding the struggles for Binance as the exchange is also under investigation in the US. The latter is trying to ascertain if Binance broke some securities rules in the country.

Last year, the exchange’s Singapore affiliate withdrew its application to operate as a crypto exchange. This was some months after Binance made it a part of the alert list of the MAS.

While commenting through an email, a Binance spokesperson confirmed strict compliance of the exchange to Singaporean laws. Also, the spokesperson noted that the exchange would not comment on the probe due to its confidential roles.

ध्वस्त FTX एक्सचेन्जका धेरै लगानीकर्ता उद्यमहरूले प्लेटफर्ममा ठूलो घाटा घोषणा गरेका छन्। जबकि धेरैले एक्सपोजरको मात्रा र यसलाई लेख्ने सम्भावना बताउँछन्, कोही शान्त छन्।

FTX सङ्क्रमण भएका केही प्रभावित फर्महरूमा ग्यालेक्सी डिजिटल, जेनेसिस, सेकोइया क्यापिटल, ब्लकफाइ र ग्यालोइस क्यापिटल समावेश छन्। यसबाहेक, क्रिप्टो विशेषज्ञहरू विश्वास गर्छन् कि ट्रेन लामो हुनेछ।

मूल स्रोत: Bitcoinछ