Binance keeps employees in Singapore despite the license campaign star-news.press/wp

Encryption correspondent

Shalini Nagarajan

Encryption correspondent

Shalini Nagarajan

About the author

Shalini is an encrypted correspondent that provides in -depth reports on daily developments and organizational transformations in the encrypted currency sector.

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Last update:

July 1, 2025

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According to what is reported, Binance is planning to keep hundreds of workers a distance in Singapore, even as the city’s state moves to tighten the bases on digital asset companies that provide services abroad without a license.

The Monetary Authority in Singapore (MAS) granted encryption companies to integrate locally, but target foreign markets until June 30 to secure licensing or stopping operations. The guidance, which aims to enhance organizational control, has already pushed exchanges such as Bitget and Bybit to think about transferring employees abroad.

However, the new rules are not expected to disrupt the local operations of Binance, I mentioned Bloomberg Wednesday. The report said that hundreds of bank employees in Singapore, most of whom work, will not need to move because their roles are internal and not largely facing.

More than 400 Binance employees are still in Singapore, focusing on the functions of the back office

Bloomberg’s LinkedIn definitions analysis shows that more than 400 people include Singapore as their location while working in Binance.

According to the port, most of the roles based on Singapore focus on internal functions such as compliance, human resources, data analyzes and technology. The lack of preparation of an official office increases the distances of these employees from organizational audit.

While Singapore made a good reputation as a leading Asian center for digital assets, its organizers have grown increasingly after several high -level encryption failures in 2022, including the collapse of the hedge fund three capital shares.

The new MAS base targets local entities, but the Binance structure keeps it out of the range

The latest base drawing clear boundaries. Companies merged in Singapore and the provision of symbolic services abroad must now comply with the requirements of local licensing.

However, Binance seems to be outside the direct range of this regulation. The company does not have an official headquarters and describes itself as “remote”.

In addition, MAS provided more clarification. Farmed employees in Singapore will not lead to licensing requirements if they are working for a foreign company. This only applies when the company serves customers outside Singapore. The exemption takes place under the Services and Financial Markets Law 2022.

Although he was placed in the MAS investor alert list since 2021, Binance has not completely released Singapore. The list effectively prevents local customer service. However, the company continues to work in a legal gray area.

However, at the present time, it appears that the workforce in Singapore will remain in place, showing how organizational enforcement continues to deal with nature without limits for global encryption operations.