Binance to Donate $1.5M to Fight Coronavirus

Also, the company was trying to purchase 70k masks and give them to the people, but was able to find the only 8k due to huge demand
27 January 2020   207

Cryptocurrency companies have expressed their willingness to help the people of China amid the outbreak of coronavirus 2019-nCoV. So, the Binance exchange will donate 10 million yuan ($ 1.44 million).

Zhao later said that the Binance team has contacted China's largest e-commerce and logistics companies. The exchange ordered about 70,000 medical masks from other countries, but was faced with the fact that all masks were sold out in nearby regions, and so far only 8,000 could be found. The problem of sending them to Wuhan, which became the epicenter of the disease, also remains relevant. 

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   284

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.