Teng dismissed claims that Binance froze all Palestinian assets, asserting that only accounts linked to illicit funds were blocked in compliance with anti-money laundering regulations.
The letter posted by Youssef indicates a rejection of an appeal against a seizure but does not identify the recipient, leading to ambiguity in the claims made.
The use of cryptocurrency by terror groups is acknowledged, but Singapore's government emphasized cash and informal systems are still the main financial transaction methods.
Teng categorized the claims against Binance as 'FUD', stating that misconceptions about the exchange's asset management in relation to Palestinians are widespread.
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