Cryptocurrency exchange Binance has acquired a regulated Japanese cryptocurrency exchange and is now preparing to enter the Japanese crypto market as a regulated entity. “The Japanese market will play a key role in the future of cryptocurrency adoption,” said the general manager of Binance Japan.
Binance Entering Japan
Cryptocurrency exchange Binance announced Wednesday that it has acquired 100% of Sakura Exchange Bitcoin (SEBC), a Japanese crypto exchange service provider that is regulated by Japan’s top financial regulator, the Financial Services Agency. The announcement explains:
Through this acquisition, Binance enters the Japanese market as a Japan Financial Services Agency (JFSA) regulated entity.
“By offering Japanese-regulated services through SEBC, Binance aims to support a responsible global environment for cryptocurrencies,” the announcement adds.
The Tokyo-based crypto exchange SEBC offers brokerage and consultation services to its customers. The trading platform currently supports 11 trading pairs: BTC/JPY, ETH/JPY, BCH/JPY, XRP/JPY, LTC/JPY, ЖАНА БАШКАЛАР/JPY, Болотная/JPY, MONA/JPY, ADA/JPY, XYM/JPY, and COT/JPY.
Takeshi Chino, general manager of Binance Japan, said:
The Japanese market will play a key role in the future of cryptocurrency adoption. As one of the world’s leading economies with a highly-developed tech ecosystem, it’s already poised for strong blockchain uptake.
“We will actively work with regulators to develop our combined exchange in a compliant way for local users. We are eager to help Japan take a leading role in crypto,” he continued.
Binance exited the Japanese crypto market in 2018 following a эскертүү by the Financial Services Agency about operating without a license. In June last year, Binance got another warning from the regulator reiterating that the exchange has been providing crypto exchange services to Japanese customers without registration.
The crypto exchange has been expanding globally. Binance has secured regulatory approvals or authorizations in France, Italy, Spain, Bahrain, Abu Dhabi, Dubai, New Zealand, Kazakhstan, Poland, Lithuania, and Cyprus.
Binance ылайык:
The acquisition of SEBC marks Binance’s first license in East Asia.
What do you think about Binance entering the Japanese crypto market? Let us know in the comments section below.
Image насыялар: Shutterstock, Pixabay, Wiki Commons
баш тартуу: Бул макалада маалымат максатында гана болот. Сатып алуу же сатуу боюнча сунушту түздөн-түз сунуш кылуу же кандайдыр бир өнүмдөрдү, кызматтарды же компанияларды сунуш кылуу же жактыруу эмес. Bitcoin.com түзүп, салык, юридикалык же бухгалтердик пикирин бере албайт. Да, коом да, жазуучу менен шартталган себеп же болжолдонуп жаткан ар кандай жоготуу же бул макалада айтылган ар кандай мазмун, же кызмат боюнча же көз каранды пайдаланууга байланыштуу, түздөн-түз же кыйыр түрдө жооптуу болуп саналат.
Source: https://news.bitcoin.com/binance-acquires-licensed-japanese-crypto-exchange-prepares-to-enter-japan-as-regulated-entity/