Binance to Launch a Crypto Exchange in Japan
Main page News, Japan, Cryptocurrency Exchanges, Binance

Binance intends to return to the Japanese digital asset market by the end of summer, Changpeng Zhao, the platform's CEO, has said during the WebX conference, Bloomberg has reported.

Las year, the company acquired the Sakura Exchange BitCoin (SEBC) trading platform, which is registered with Japan's Financial Services Agency (FSA).

Binance Japan general manager Takeshi Chino has announced the company intends to cooperate with regulators and develop the exchange in accordance with local requirements.

The platform was originally scheduled to go live on May 31. Its users will reportedly have access to up to 30 cryptos for spot trading.

Chino has admitted the platform plans to list stablecoins. Last June 1, the law on "stablecoins," which are recognized as "digital money," came into force.

The FSA issued back in 2018 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 strengthened the risk verification process when opening new cryptocurrency exchanges.

Two years later, Binance decided to restrict Japanese users' access to the platform.

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