Japan’s top securities regulator will warn cryptocurrency exchange Binance that it must cease operating in the country without a license or face enforcement action.

Citing a person familiar with the matter, Nikkei reports that Japan’s Financial Services Agency (FSA) will issue a formal warning to Binance, which has allegedly begun expanding operations into Japan without permission from the regulatory agency.

Headquartered in Hong Kong and bootstrapped through an initial coin offering (ICO) last year, Binance has quickly emerged as one of the world’s most popular cryptocurrency exchanges. At present, Binance ranks as the world’s largest cryptocurrency trading platform, with a 24-hour volume of nearly $1.9 billion.

Binance has its own utility token — BNB — and the exchange operator has announced that it has begun development on its own public blockchain, which will be used as the foundation for a decentralized exchange (DEX). The BNB price fell by approximately 10 percent from its intraday high following the initial report, although its 24-hour performance is still in positive territory.

Binance has said that intends to apply for an FSA license, but the fact that it expanded its operations into this jurisdiction without regulatory approval could attract more scrutiny to the company’s application.

Indeed, the FSA has stepped up its oversight of the country’s cryptocurrency trading markets across the board, a move that came in direct response to a hack at Tokyo exchange Coincheck in January — an incident which resulted in the theft of more than $530 million worth of tokens.

The country’s 16 licensed cryptocurrency exchanges have also announced that they will form a self-regulatory body to establish and enforce best practices within the industry.

ICC was unable to reach Binance for comment, but CEO Changpeng Zhao tweeted that the company was engaged in constructive dialogue with the FSA.

“We are in constructive dialogs with Japan FSA, and have not received any mandates,” Zhao said. “It does not make sense for JFSA to tell a newspaper before telling us, while we have an active dialog going on with them.”

  1. SelmaChief 4 weeks ago

    I have checked your blog and i have found some duplicate content, that’s why you don’t rank
    high in google, but there is a tool that can help you to create 100% unique content,
    search for: boorfe’s tips unlimited content

  2. Yuriko Hemker 3 weeks ago

    The greatest place to trade HealthyWorm with Nucleon is on CoinExchange! Trade it here: https://www.coinexchange.io/market/WORM/BTC?r=39d917b5

  3. Cialis online 3 weeks ago

    Whoa loads of awesome tips!

  4. Generic cialis 3 weeks ago

    You mentioned this adequately!

  5. Cialis 20 mg 2 weeks ago

    Purchasing cialis on the internet http://cialisvipsale.com/

    Thanks! Awesome stuff!

  6. Viagra for daily use 2 weeks ago

    Viagra tablets australia http://viagravipsale.com/

    Terrific tips. Cheers.

  7. Viagra for sale 1 week ago

    Viagra great britain http://rldta.com/

    Wonderful forum posts. Cheers!

  8. Cialis prices 1 week ago

    Viagra vs cialis http://kawanboni.com/

    You said it nicely..

  9. Cialis cost 1 week ago

    Cialis prices http://cialisvonline.com/

    With thanks. Loads of advice!

  10. Viagra generika 1 week ago

    Tadalafil tablets http://viagravonline.com/

    Tips clearly utilized!!

  11. Viagra for sale 1 day ago

    With thanks! Useful information!

Leave a reply

Your email address will not be published. Required fields are marked *



We're not around right now. But you can send us an email and we'll get back to you, asap.


©2018 ICO Crypto Club | Prouldy powered by Crypto Passion - ICO Crypto Club sponsored by worldcoin.cash

Log in with your credentials


Forgot your details?

Create Account