BlockBeats News, July 2nd. According to Bloomberg, despite Singapore's recent crackdown on unlicensed crypto companies, the world's largest digital asset exchange Binance still plans to retain hundreds of remote employees in Singapore.
The Monetary Authority of Singapore (MAS) recently announced a strict rule: all crypto companies registered in Singapore and providing services overseas must cease related activities by June 30th. This move has led many of the world's top ten exchanges, including Bitget and Bybit, to consider relocating employees overseas.
However, according to sources familiar with the matter, this new rule is expected to have little impact on Binance's operations in Singapore. These sources, who requested anonymity due to confidentiality, stated that Binance's hundreds of remote employees in Singapore will not need to relocate. Bloomberg's analysis shows that there are over 400 Binance employees on LinkedIn who list Singapore as their base.
The sources said that most of Binance's employees in Singapore are engaged in backend operations such as compliance, human resources, data analysis, and tech work, and are therefore considered unaffected by the MAS's new rule. They work remotely rather than in a physical office, which in a way provides some protection.
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