On Thursday afternoon (2 Sep 2021), Cryptocurrency exchange Binance.com was placed on the Monetary Authority of Singapore’s (MAS) investor alert list.
Source: MAS Website on 2 Sep 2021
For context, MAS places companies on this list for giving the public the wrong impression that they are licensed or regulated by the MAS to provide regulated financial services in Singapore even if they do not have a license or have not been exempted from licensing by MAS.
At the time of writing, there are currently 699 companies registered in Singapore and overseas that are placed on this list.
What to make of this situation and what should Binance.com investors do?
Here is what you need to know!
Disclaimer: The information provided by Seedly serves as an educational piece and is not intended to be personalised investment advice. Readers should always do their own due diligence and consider their financial goals before investing in any investment product. The writer may have a vested interest in the investments products mentioned. ...