The Monetary Authority of Singapore has released a statement explaining why it had warned Binance, but not FTX, about its operations in the country and clarifying several misconceptions in the wake of the FTX collapse and bankruptcy filing.
- FTX is Not Licensed to Operate in Singapore
- Binance Was Actively Soliciting Users While FTX Was Not
- Dealing With Any Crypto Platform is Hazardous
- Singaporeans Were Heavily Affected by FTX’s Collapse
(by John P. Njui)