On July 2, according to Bloomberg, despite Singapore's recent crackdown on unlicensed crypto companies, the world's largest digital asset trading platform Binance still plans to retain hundreds of remote employees in Singapore.
The Monetary Authority of Singapore (MAS) recently announced a strict regulation: all crypto companies registered in Singapore and providing services overseas must cease related activities by June 30. This move prompted several of the top ten global exchanges, including Bitget and Bybit, to consider relocating their employees abroad.
However, according to people familiar with the matter, this new regulation is expected to have minimal impact on Binance's operations in Singapore. These sources, who requested anonymity due to the sensitive nature of the information, stated that Binance's hundreds of remote employees in Singapore will not need to relocate. Bloomberg's analysis shows that over 400 Binance employees on LinkedIn have listed Singapore as their residence.
Sources said that most of Binance's employees in Singapore are engaged in backend tasks such as compliance, human resources, data analysis, and technical work, and are therefore considered unaffected by MAS's new regulations. Their remote work mode, rather than working in physical offices, also provides a certain level of protection.
