Binance still plans to retain remote employees in Singapore, despite local cryptocurrency regulations taking effect

According to Bloomberg, despite Singapore's crackdown on unlicensed cryptocurrency institutions, cryptocurrency exchange Binance still plans to keep hundreds of remote employees in Singapore. The Monetary Authority of Singapore recently announced that it has set a deadline of June 30th for cryptocurrency companies registered and established in Singapore that provide services overseas, requiring them to cease related business activities. According to insiders, the new regulations are expected to have limited impact on Binance's business layout in Singapore.