Last week Luno, the Digital Currency Group-owned crypto exchange, has announced that it’s set to cease operations in Singapore and will pull its plans to apply for a license in the country.

Luno claims that the move comes as part of a “regular evaluation” of its global strategy and has advised that all Singaporean users should withdraw their tokens and funds by June 19.

Listen to the article to find out how Singapore's crackdown on retail crypto traders has affected Luno.

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