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Crypto Firm Luno to Cease Operations in SG Starting June

Global crypto company Luno has announced that it will stop offering its services in Singapore from June 20, 2023, as part of a regular evaluation of its global strategy and presence. The move will not affect its operations in Malaysia. Luno will close all accounts belonging to Singaporean customers on June 20, and users will need to withdraw all their cryptocurrency or Singapore dollars from their Luno Wallet by June 19. Customers can transfer their crypto holdings to other reputable platforms or private wallets. Failure to withdraw holdings by June 19 will result in the sale of the holdings at the prevailing market price and stored as Singapore dollar, with Luno's existing instant transaction fees of 0.75% applying.

(By Deepti)

Singapore
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