[Levin]

Claire Huang
Business Correspondent


......

Why are Singapore retail users and their assets not parked under Quoine, which has received an exemption from the Monetary Authority of Singapore (MAS)?

Doing so would have been good governace and in line with how FTX's units in Japan and the United States operated.

......

Quoine was granted a six-month exemption from July 28 from holding a licence under the Singapore Payment Services Act.

This meant it was allowed to offer digital services to Singapore retail investors while it applied for an MAS license.

......

there has been no formal migration process of Singapore users from FTX.com to Quoine.

As former parliamentarian Calvin Cheng ...... said "If Quoine is exempted and FTX.com isn't, FTX.com can't be onboarding clients directly, only Quoine can.

"But when users sign on with FTX, did they sign on with Quoine? Were the funds stored by Quoine? Obviously not, otherwise the funds wouldn't be stuck in FTX.com,"

......

Said Mr Cheng: "Binance was the only non-licensed offshore exchange that Singapore residents couldn't use. They complied. Did FTX.com have a licence, or any of the global offshore exchanges out there?"

......

Singapore is said to account for more than 5 per cent of FTX's total user percentages, behind South Korea

......

Mr Alex Svanevik of blockchain analytics platform Nansen on Nov 9 wrote on Twitter: "A lot of people in Singapore held funds in FTX because Binance is banned here. Sad and ironic."

......

As a corporate veteran pointed out: "I am surprised all the big private equity firms put so much money into FTX, which didn't even have a board of directors. This is so basic."


Much more at: https://www.straitstimes.com/business/an...ore-entity

[Wy:Nox]

One Country with Two Systems again.

[Niubee]

MAS and Temasek need to clarify on position..

[webinarian]

Best is China, it bans all crypto operations.  

China has foresight.  

.

[Sentinel]

Just stop been a smart alec

It is obvious why Binance.com was not allowed to onboard SG users, because Temasek cannot get a share to invest in it, even though it is the largest, most full-featured and secured crypto platform, with superior insurance and a leader who protects users

Yet MAS chose to muck around with CZ Binance

But just because Sam Bankman Fried allowed Temasek to invest heavily in FTX, MAS closed both eyes

But Karma has a strange way of getting back at MAS, because Lord Karma is displeased, very displeased

Don't ask SG Users to use Quoine sheet, it is similar to Coinhako, a scam operator, with exobitant fees and lousy features, limited coins, etc

In the first place, so many countries allowed Binance.com to operate, including Indonesia

SG calls itself a global crypto and blockchain hub, but hypocrite

Italy refused to issue Binance the licence but has since turned around and given Binance the full licence to operate

MAS approved all those operators that are either inferior, less secure or downright scams, like Hodlnaut

MAS is totally uncooperative, but you think Binance give MAS any sheet? It just walk away and tore up its application and closed down Binance.sg

MAS is just so full of sheet, causing SG users to migrate from Binance to FTX

PAP will lose 5 GRCs next election, because it is pissing everyone off

Better repent and get Binance.com back for Sinkiepoor users

It is the only platform that protects users and their assets

NOT DBS, not FTX, not Hodlnaut, not Quoine, not Coinhako, not Coinbase, not Gemini

What a bunch of losers at PAP and MAS, totally clueless and useless!

[Niubee]

Just stop been a smart alec

It is obvious why Binance.com was not allowed to onboard SG users, because Temasek cannot get a share to invest in it, even though it is the largest, most full-featured and secured crypto platform, with superior insurance and a leader who protects users

Yet MAS chose to muck around with CZ Binance

But just because Sam Bankman Fried allowed Temasek to invest heavily in FTX, MAS closed both eyes

But Karma has a strange way of getting back at MAS, because Lord Karma is displeased, very displeased

Don't ask SG Users to use Quoine sheet, it is similar to Coinhako, a scam operator, with exobitant fees and lousy features, limited coins, etc

In the first place, so many countries allowed Binance.com to operate, including Indonesia

SG calls itself a global crypto and blockchain hub, but hypocrite

Italy refused to issue Binance the licence but has since turned around and given Binance the full licence to operate

MAS approved all those operators that are either inferior, less secure or downright scams, like Hodlnaut

MAS is totally uncooperative, but you think Binance give MAS any sheet? It just walk away and tore up its application and closed down Binance.sg

MAS is just so full of sheet, causing SG users to migrate from Binance to FTX

PAP will lose 5 GRCs next election, because it is pissing everyone off

Better repent and get Binance.com back for Sinkiepoor users

It is the only platform that protects users and their assets

NOT DBS, not FTX, not Hodlnaut, not Quoine, not Coinhako, not Coinbase, not Gemini

What a bunch of losers at PAP and MAS, totally clueless and useless!

Bingo !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[Ola]

MAS led by Tharman

MAS Heng SK member of the Board

MOF under Lawrence Wong

Since they are in the Familee, just talk over dinner and solve everything.