Japan’s Financial Services Watchdog Issues Binance Warning
25 Jun, 2021•1 min read•Other
Japan’s financial regulator has warned that cryptocurrency exchange Binance is operating in the country without permission.
The Financial Services Agency (FSA) issued the warning Friday that Binance is not registered to do business with residents of Japan. Binance was warned by the FSA in March 2018 for the same reason. CEO Changpeng "CZ" Zhao hit out at reports at the time that Binance was subject to criminal charges by the FSA, claiming that the exchange was in "constructive dialogs" with the regulator over the matter. The FSA has also this year issued a similar warning concerning Bybit about offering crypto services in the country despite not being registered to do so. "Binance does not currently hold exchange operations in Japan, nor do we actively solicit Japanese users," a Binance spokesperson told CoinDesk. "As you can understand, we do not comment, as a matter of policy, on specific matters related to any regulators."