Crypto Exchange Luno to Withdraw From Singapore

Jamie Crawley Jamie Crawley is a CoinDesk news reporter based in London. Follow @ JamieCrawleyCD on Twitter Cryptocurrency exchange Luno will stop providing services to customers in Singapore as of June 20, the firm said on Monday . Luno has informed the Monetary Authority of Singapore that is withdrawing its application for a license to operate in the southeast Asian city state as part of an "evaluation of [its] global strategy and presence." In a separate announcement , Luno said that customers in neighboring Malaysia are unaffected and that the exchange will continue to operate there. Luno recently hired investment bank Canaccord Genuity Group to help attract new investors in order to finance its growth and expansion plans , with an eye on a public listing in the future. Customers in Singapore have until June 19 to withdraw all funds they hold on the platform. Luno is owned by Digital Currency Group, which is also the parent company of CoinDesk. Read More: Binance's Custody Arm Ceffu Will Apply for Singapore License: Report Edited by Sheldon Reback. DISCLOSURE Please note that our privacy policy , terms of use , cookies , and do not sell my personal information has been updated . The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies . CoinDesk is an independent operating subsidiary of Digital Currency Group , which invests in cryptocurrencies and blockchain startups . As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights , which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG . Jamie Crawley Jamie Crawley is a CoinDesk news reporter based in London. Follow @ JamieCrawleyCD on Twitter Learn more about Consensus 2023 , CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now. Jamie Crawley Jamie Crawley is a CoinDesk news reporter based in London. Follow @ JamieCrawleyCD on Twitter