Singapore's Monetary Authority of Singapore reminds the public to avoid transacting with unregulated companies, reiterates that Binance is not authorized to provide regulated financial services

Odaily News: A spokesperson for the Monetary Authority of Singapore stated on November 5 that the general public is not suitable for cryptocurrency trading, and consumers should remain cautious and avoid transacting with unregulated companies. MAS reiterated that Binance is not authorized to provide regulated financial services in Singapore; even when trading through licensed companies, regulatory measures cannot fully prevent losses caused by the inherent high risks of cryptocurrencies.