Binance Japan Accepts New Users Amid Regulatory Shifts

• Two years ago, Japanese authorities issued a warning to the exchange for operating illegally.
• There are currently 34 tokens accessible for spot trading on Binance Japan.

Binance Japan, a subsidiary of crypto exchange Binance, will soon begin accepting new users on its recently released platform in Japan. Two years ago, authorities issued a warning to the exchange for operating illegally in the country.

A variety of products and services, including spot trading and Earn products, are now available to new users in Japan. There are currently 34 tokens accessible for spot trading on Binance Japan, with BNB being one of them.

Sustainable Growth

After 2023-08-14, a distinct notice will be given to commence the migration process for existing users in Japan who are enrolled with the exchange’s global platform. In November of last year, Binance purchased Sakura Exchange BitCoin (SEBC), a regulated cryptocurrency exchange.

Two major cryptocurrency exchanges, Coinbase (COIN) and Kraken have suspended operations in the country due to “market conditions” in recent months. At the WebX conference held in Tokyo last week, Japanese authorities hinted at the impending implementation of additional Web3-related rules.

The exchange believes that providing Japan with regulated exchange services will help the country’s digital asset industry grow. To create a sustainable Web3 ecosystem, the country’s innovative spirit and increasing interest in blockchain tech make it an ideal location.

Recently, Binance has been granted a license to provide virtual asset exchange services by the Virtual Assets Regulatory Authority in Dubai. The VARA of Dubai has granted Binance’s Dubai subsidiary, Binance FZE, the first-ever MVP license for an exchange. Regulatory authorities across the globe have increased scrutiny over the sector in recent times.

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