Singapore recently amended its payments legislation and since the new law which came into force in January affects all companies that deal in cryptocurrency payments or trading with digital coins, Binance applied for a license there. The Binance CEO Zhao Changpeng issued a statement about his company having applied for such license - “We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.” According to this new legislation the local financial regulator, the Monetary Authority of Singapore, will be able to supervise the cryptocurrency sector for cases of security risks, money laundering and financing terrorism. It's interesting how this part of the world is embracing cryptos, I wonder where it will happen next.