Bitcoin News and Finance
Binance Launching New Crypto Trading Platform in Japan This Summer to Comply With Regulations Skip to main content

Binance Launching New Crypto Trading Platform in Japan This Summer to Comply With Regulations

Sleeping Bitcoin Wallet Awakens: $3.7M Worth of BTC Suddenly Moves After Close to 12 Years of Dormancy Binance to Launch New Crypto Trading Platform for Japan Residents This Summer

Global cryptocurrency exchange Binance says it has created a new crypto trading platform for Japan residents that will be available this summer. The new exchange will fully comply with Japanese crypto regulations and will offer trading of a limited number of tokens initially, according to the exchange.

Binance Has Created New Crypto Trading Platform for Japan Users

Global cryptocurrency exchange Binance has announced that it is launching a local crypto trading platform for residents of Japan this summer. Binance wrote:

We are pleased to announce that we have created a new platform for residents in Japan in order to fully comply with local regulations.

“The new platform will be available this summer. We will inform the launch date and provide further details in the coming months,” the global crypto exchange continued.

The services offered by Binance’s global platform will be discontinued for Japan residents on Nov. 30, the announcement adds. “Users of the global platform will be able to migrate to the new local platform through a new identity verification process (KYC), which will be available after August 1, 2023.”

From Dec. 1, all Binance.com accounts held by local Japanese resident users will be set to “withdrawal-only mode,” Binance detailed. In addition, Binance noted that its new Japan platform “will not provide derivatives services at the initial stage to comply with local regulations.”

Regarding which crypto tokens will be available on the new Binance Japan platform, the crypto firm explained:

Binance Japan will have a limited number of tokens available for spot trading at the initial stage, and there are limitations on certain product offerings to comply with local regulations. We will add more products and services when it is possible to do so.

Binance further noted: “We aim to provide over 30 tokens as a first step. We will provide updates and more information once new tokens are confirmed.”

In November last year, Binance said it had acquired 100% of Sakura Exchange Bitcoin (SEBC), a Japanese crypto exchange service provider regulated by Japan’s top financial regulator, the Financial Services Agency. “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,” said Takeshi Chino, general manager of Binance Japan.

What do you think about Binance launching a local platform for Japan residents to comply with regulations? Let us know in the comments section below.

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory