• 中文版
  • BM
  • News
  • Deals
  • Reviews
    • First Impressions
    • Hands-on
    • Comparisons
  • Tech
    • Mobile
    • Computers
    • Cameras
    • Wearables
    • Audio
    • Drones
  • Telco
    • Celcom
    • Digi
    • Maxis
    • Time
    • U Mobile
    • Unifi
    • Yes
  • Video
  • Cars
  • Contribute
Menu
  • 中文版
  • BM
  • News
  • Deals
  • Reviews
    • First Impressions
    • Hands-on
    • Comparisons
  • Tech
    • Mobile
    • Computers
    • Cameras
    • Wearables
    • Audio
    • Drones
  • Telco
    • Celcom
    • Digi
    • Maxis
    • Time
    • U Mobile
    • Unifi
    • Yes
  • Video
  • Cars
  • Contribute
Search
  • 中文版
  • BM
  • News
  • Deals
  • Reviews
    • First Impressions
    • Hands-on
    • Comparisons
  • Tech
    • Mobile
    • Computers
    • Cameras
    • Wearables
    • Audio
    • Drones
  • Telco
    • Celcom
    • Digi
    • Maxis
    • Time
    • U Mobile
    • Unifi
    • Yes
  • Video
  • Cars
  • Contribute
Menu
  • 中文版
  • BM
  • News
  • Deals
  • Reviews
    • First Impressions
    • Hands-on
    • Comparisons
  • Tech
    • Mobile
    • Computers
    • Cameras
    • Wearables
    • Audio
    • Drones
  • Telco
    • Celcom
    • Digi
    • Maxis
    • Time
    • U Mobile
    • Unifi
    • Yes
  • Video
  • Cars
  • Contribute
Search
Close
Home Digital Life

Binance stops offering cryptocurrency trading in Ringgit Malaysia on 16 August

  • BY Alexander Wong
  • 13 August 2021
  • 7:51 pm
  • Comment
Share on FacebookShare on Twitter

Following Security Commission’s (SC) notice last month, Binance has announced that it is ceasing several product offerings for the Malaysian market. The decision was made after evaluating its product and service offering to remain compliant with local regulations.

Effective Monday, 16th August 2021 at 12.00pm local time, Binance will no longer offer MYR trading pairs, MYR payment options and P2P merchant applications. The announcement added that MYR trading pairs will be removed this evening, 13th August 2021 at 9:00pm. Users are advised to complete all related P2P trades and remove related trade advertisements by 8pm this evening to avoid potential trading disputes.



In response to one of SC’s demands, Binance also clarified that they do not operate any Telegram channel or online communication channels in Malaysia.

The statement added “Our aim is to create a sustainable ecosystem around blockchain technology and digital assets. Binance welcomes developments to our industry’s regulatory framework as they pose opportunities for the market players to have greater collaboration with the regulators. We are committed to working constructively in policy-making that seeks to benefit every user.”



The SC has been cracking down on unauthorised platforms and services that offer cryptocurrency trading. In April, they instructed the MCMC to block access to Remitano, which is a popular P2P cryptocurrency platform. Last month, the SC ordered Binance to disable their website, applications, media and marketing activities in Malaysia within 14 business days from 26th July 2021.

At the moment, the SC has only authorised four digital asset exchanges in Malaysia. This includes Luno, Sinergy, Tokenize and MX Global. The approved platforms are allowed to offer cryptocurrency trading of Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC) and Bitcoin Cash (BCH).

[ SOURCE ]

Tags: BinancecryptocurrencySecurities Commission
Alexander Wong

Alexander Wong

POPULAR

What are those NGL links you see on Instagram? And how anonymous are they?

June 24, 2022

Binance stops offering cryptocurrency trading in Ringgit Malaysia on 16 August

August 13, 2021

MCMC approves Celcom-Digi merger, 70MHz of spectrum and Yoodo to be divested

June 29, 2022

MCMC: Celcom, Digi and U Mobile may face fines up to RM200,000 for not meeting quality standards

June 24, 2022

[UPDATE] Maxis is having network disruption, users are stuck on EDGE

June 30, 2022

Report: Six telcos to finalise 5G agreement in early July, DNB to offer discounted rates until 80% coverage achieved

June 29, 2022

Copyright © 2022 · SoyaCincau.com
Mind Blow Sdn Bhd (1076827-P)

  • ADVERTISE
  • DISCLAIMER

Copyright © 2022 · SoyaCincau.com – Mind Blow Sdn Bhd (1076827-P)

  • ADVERTISE
  • DISCLAIMER