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Binance Singapore halts licensing push amid investment in Hg Exchange

Binance Asia Services (BAS), the Singapore-based Binance entity, is set to cease its licensing efforts in the country, the crypto exchange service announced on Monday. Today’s news confirms previous speculation that the company might withdraw its license application while seeking a new global headquarters. BAS had been exempted from holding a license under the country’s Payment Services Act while the Monetary Authority of Singapore (MAS) reviewed its application. Tweeting on Monday, Binance CEO Changpeng Zhao clarified that Binance’s investment in …