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Bloomberg
The Singapore police is investigating Binance.com over a possible breach of local payment services rules.
“Police investigations are ongoing and we are unable to comment further,†according to a statement from the police in response to queries from Bloomberg News. The probe started when the nation’s financial regulator referred the case to the white-collar crime unit of the Singapore Police Force, the Monetary Authority of Singapore had said a day earlier.
The police’s probe adds to troubles for Binance, which is also under regulatory investigation in the US on whether it broke securities rules. In the city-state, its Singapore affiliate last year dropped its application to run a crypto exchange, a few months after Binance.com was added to the MAS’s investor alert list.