The largest bitcoin exchange Binance will launch a Japanese division in June 2023. This is reported CoinDesk.
Last year, the company acquired the Sakura Exchange BitCoin (SEBC) trading platform, which is registered with the Japan Financial Services Agency (FSA).
Operations on SEBC will cease on May 31, according to the statement. Instead, a new organization will appear under the temporary name Binance Japan. The platform currently supports 11 trading pairs.
In 2018, the FSA issued a warning to Binance about the need to obtain a license in order to continue operating in the country. At the same time, the regulator tightened the process of checking risks when opening new cryptocurrency exchanges.
Two years later, Binance decided to restrict Japanese users from accessing the platform. Later it became known that the exchange and the local crypto trading firm TaoTao did not reach an agreement to create a joint company.
In the summer of 2021, the FSA issued another warning to Binance for operating without registration.
In September 2022, the crypto exchange re-applied for a license in the country. According to Bloomberg, the company’s interest in the jurisdiction is dictated by a softening of the supervisory approach to the industry and “significant potential” for user growth.
Recall that in April 2023, the Australian Securities and Investment Commission canceled the license of the local branch of Binance for financial services.
In the same month, Reuters journalists reported that the largest bitcoin exchange began preparations to expand its business to the Argentine market.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
The largest bitcoin exchange Binance will launch a Japanese division in June 2023. This is reported CoinDesk.
Last year, the company acquired the Sakura Exchange BitCoin (SEBC) trading platform, which is registered with the Japan Financial Services Agency (FSA).
Operations on SEBC will cease on May 31, according to the statement. Instead, a new organization will appear under the temporary name Binance Japan. The platform currently supports 11 trading pairs.
In 2018, the FSA issued a warning to Binance about the need to obtain a license in order to continue operating in the country. At the same time, the regulator tightened the process of checking risks when opening new cryptocurrency exchanges.
Two years later, Binance decided to restrict Japanese users from accessing the platform. Later it became known that the exchange and the local crypto trading firm TaoTao did not reach an agreement to create a joint company.
In the summer of 2021, the FSA issued another warning to Binance for operating without registration.
In September 2022, the crypto exchange re-applied for a license in the country. According to Bloomberg, the company’s interest in the jurisdiction is dictated by a softening of the supervisory approach to the industry and “significant potential” for user growth.
Recall that in April 2023, the Australian Securities and Investment Commission canceled the license of the local branch of Binance for financial services.
In the same month, Reuters journalists reported that the largest bitcoin exchange began preparations to expand its business to the Argentine market.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!