Binance System Update Complete

One of the largest cryptocurrency exchange reported that it's back online
09 February 2018   2030

One of the most fast growing cryptocurrency exchange, Binance, reported on complitatio of its system update. 

Binance has completed its system upgrade and we expect all trading activity to resume at 10:00 AM (UTC).

In the 60 minutes prior to the commencement of trading, users will be able to cancel orders, process deposits, withdrawals, and use all other account related functions.

To show our gratitude for your unwavering support throughout the upgrade process, Binance will provide all users with a 70% discount on trading fees (0.03% on all trades, 0.015% with BNB) until 2018/02/24 00:00 AM (UTC).
 

Binance Team

These news are good for the Binance users, but they report on ongoing issues on the Twitter.

We hope that the Binance team will solve all issues ASAP and their users will be happy.

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   81

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.