Binance applies for new crypto license in S’pore

Bloomberg

Binance Holdings Ltd, operator of one of the world’s largest crypto exchanges, has
applied for an operating license in Singapore under the government’s new payments legislation.
“We have already applied,” Binance co-founder and CEO “CZ” Zhao Changpeng said in a phone interview. “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.”
The Payment Services Act, which came into force last month, is the first comprehensive regulation for companies handling activities ranging from digital payments to trading of tokens such as Bitcoin and Ether.