The exchange was warned by Japanese officials two years ago for operating illegally.
On #Binance Japan, there are now 34 tokens available for spot trading.
Binance Japan, a subsidiary of the cryptocurrency exchange Binance, will soon begin accepting new members on its freshly launched Japanese platform. Authorities issued a warning to the exchange two years ago for operating illegally in the nation.
New users in Japan may now access a number of goods and services, including spot trading and Earn products. Binance Japan now offers 34 tokens for spot trading, with BNB being one among them.
From 2023-08-14, a specific notification will be sent to begin the migration process for current Japanese users who are registered in the exchange's worldwide platform. Binance acquired Sakura Exchange BitCoin (SEBC), a licensed #cryptocurrency exchange, in November of last year.
In recent months, two prominent cryptocurrency exchanges, Coinbase (COIN) and Kraken, have ceased operations in the nation owing to "market circumstances." Japanese officials hinted at the upcoming introduction of extra Web3-related laws during the WebX conference last week in Tokyo.
The exchange thinks that offering regulated exchange services to Japan would assist the country's digital asset market expand. The country's intellectual attitude and growing interest in blockchain technology make it a perfect site for developing a sustainable Web3 ecosystem.
The Virtual Assets Regulation Authority in Dubai has awarded Binance a license to conduct virtual asset exchange services. Binance's Dubai subsidiary, Binance FZE, has been given the first MVP license for an exchange by the VARA of Dubai. Regulatory bodies throughout the world have recently upped their surveillance of the industry.