<div dir="ltr"><p style="box-sizing:border-box;margin:2.15rem 0px;font-family:TiemposTextWeb,Georgia,Times,serif;color:rgb(17,17,17);font-size:20px">"As the rest of the world cracks down on cryptocurrencies, the island nation of Singapore is becoming a hotspot for global crypto companies and executives with its warmer regulations and license exemptions.</p><p style="box-sizing:border-box;margin:2.15rem 0px;font-family:TiemposTextWeb,Georgia,Times,serif;color:rgb(17,17,17);font-size:20px">Binance, the world's largest crypto exchange <a href="https://www.statista.com/statistics/864738/leading-cryptocurrency-exchanges-traders/" style="box-sizing:border-box;color:rgb(17,17,17);text-decoration-line:none;background-color:transparent">by trading volume</a>, is one of the most prominent groups to set up shop in the country, with <a href="https://www.bloomberg.com/news/articles/2020-02-16/binance-applied-for-singapore-s-new-crypto-license-ceo-says?sref=BLKWHazc" style="box-sizing:border-box;color:rgb(17,17,17);text-decoration-line:none;background-color:transparent">CEO Changpeng Zhao having moved to the city-state in recent years.</a></p><p style="box-sizing:border-box;margin:2.15rem 0px;font-family:TiemposTextWeb,Georgia,Times,serif;color:rgb(17,17,17);font-size:20px">In the rest of the world, the exchange has faced a flurry of clampdowns from various governments, largely over concerns of unregulated activity that has the potential to be used for money-laundering or terrorist funding. <a href="https://markets.businessinsider.com/currencies/news/binance-thailand-sec-criminal-complaint-cryptocurrency-exchange-license-approve-2021-7" style="box-sizing:border-box;color:rgb(17,17,17);text-decoration-line:none;background-color:transparent">Thailand, Japan, the EU, Canada,</a> and <a href="https://www.bloomberg.com/news/articles/2021-05-13/binance-probed-by-u-s-as-money-laundering-tax-sleuths-bore-in?sref=BLKWHazc" style="box-sizing:border-box;color:rgb(17,17,17);text-decoration-line:none;background-color:transparent">the US are all probing</a> or taking action against Binance, and the <a href="https://www.businessinsider.com/binance-banned-from-carrying-out-regulated-activities-2021-6" style="box-sizing:border-box;color:rgb(17,17,17);text-decoration-line:none;background-color:transparent">exchange was banned from the UK in June.</a></p><p style="box-sizing:border-box;margin:2.15rem 0px;font-family:TiemposTextWeb,Georgia,Times,serif;color:rgb(17,17,17);font-size:20px">But crypto players like Binance have found Singapore to be a paradise of opportunity, even while a regulations storm looms over the industry in other parts of the globe."</p><p style="box-sizing:border-box;margin:2.15rem 0px;font-family:TiemposTextWeb,Georgia,Times,serif;color:rgb(17,17,17);font-size:20px"><a href="https://www.insider.com/singapore-becomes-hotspot-for-crypto-groups-binance-amid-global-crackdown-2021-7">https://www.insider.com/singapore-becomes-hotspot-for-crypto-groups-binance-amid-global-crackdown-2021-7</a><br></p></div>