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Binance Said to Be Keeping Staff in Singapore Despite MAS' New Rules
The Straits Times
|July 03, 2025
The world's largest digital assets exchange Binance plans to keep hundreds of remote workers in Singapore, despite a crackdown on unlicensed crypto outfits in the city-state.
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The Monetary Authority of Singapore (MAS) recently announced a hard deadline of June 30 for crypto firms incorporated in Singapore and offering services offshore to cease activities, prompting top-10 exchange operators Bitget and Bybit to weigh moving staff overseas.
The new rules are expected to have a negligible impact on Binance's operations in Singapore, according to people familiar with the company's operations who asked not to be identified.
Hundreds of Singapore-based employees working remotely for the exchange will not need to relocate, the sources said.
More than 400 Binance workers label themselves as based in Singapore on LinkedIn, according to a Bloomberg News analysis.
Binance had no comment on its operations in the Republic, and did not specify whether it has an office in the city-state when asked by Bloomberg.
MAS referred to its earlier statements on the new rules.
Crypto exchanges have long posed challenges for would-be regulators by leaving their base of operations ambiguous.
This story is from the July 03, 2025 edition of The Straits Times.
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