Binance has announced some changes to its crypto trading services for customers in Singapore.

Co-ordinate to a statement on its website published on Monday, Singapore-based users will be geo-fenced from sure account functions on the Binance.com website.

Binance users in Singapore will no longer have access to fiat deposits, crypto spot trading, liquid swap and crypto purchases via fiat channels on the website.

"We will be restricting Singapore users in respect of the Regulated Payments Services in-line with our delivery to compliance," the statement added.

Based on the new directive, Binance users in Singapore accept been urged to cease all related activities impacted by the proclamation and to withdraw their fiat and crypto holdings to avoid any disputes.

Monday's announcement is the latest brake imposed past Binance on its customers in Singapore. Every bit previously reported by Cointelegraph, Binance initially rolled back some of its product offerings in the city-land.

At the time, the crypto exchange giant blocked Singapore dollar-denominated crypto trading following warnings from the Monetary Authority of Singapore that the platform had violated local payment laws. A like activity was also taken in S Korea back in August, with the platform halting Korean won-denominated trading.

Binance too blocked users in Singapore from downloading its mobile platform from the Google and Apple app stores.

Related: Binance incapable of effective supervision, British regulator states

Binance has seen pregnant regulatory scrutiny in many jurisdictions beyond the globe. Consequently, the substitution has been forced to discontinue some of its services in several countries.

Before in September, Binance stated that it will stop crypto futures and options trading in Australia, with users in the land given xc days to close their positions.

Binance has sought to polish these regulatory wrinkles by upscaling its customer identification compliance protocols.

Meanwhile, Binance CEO Changpeng Zhao has stated the company'southward intention to comply with regulatory demands while also announcing plans for Binance.United states — the exchange's United states of america arm — to have gone public by 2024.