During a conference in Tokyo, Binance CEO Changpeng Zhao said the top cryptocurrency exchange will launch full services for Japanese users in August. This follows Binance acquiring the FSA-regulated Sakura Exchange BitCoin in November, enabling Binance’s official Japan re-entry.
A Binance spokesperson remarked that Japan has huge Web3 potential and will be key for further crypto adoption. According to a notice in May, Binance planned to stop its global services for Japanese users on November 30th, letting them migrate to the new local platform after August 1st. Initially, Binance intended to offer up to 30 digital assets for spot trading in Japan.
Neither Binance nor Japan’s FSA immediately responded to requests for comment.
Japan’s FSA instituted registration requirements for crypto firms in 2017. Despite Binance claiming it had left Japan, the FSA warned Binance about unlicensed activity in 2018 and 2021.
Reports in September 2022, before the SEBC acquisition, said Binance was now pursuing a Japanese license and regulatory approval. A Binance spokesperson declined to comment on specific discussions then, stating Binance is committed to working with global regulators on policies for consumer protection and innovation.
