The largest cryptocurrency exchange has announced a complete suspension of user registrations from Japan. This is due to the purchase of the local regulated platform Sakura Exchange BitCoin (SEBC).
In the official announcement, Binance representatives writethat are committed to full compliance with the requirements of Japanese regulators. Therefore, with the company’s entry into the Japanese market, local residents will lose access to registration on the global Binance platform. At the same time, users who have registered in advance will be able to continue trading without any restrictions.
“The Japanese market will play a key role in the future adoption of cryptocurrencies. Japan remains one of the largest economies in the world with a developed digital and tech ecosystem, and blockchain is often used here. We will continue to actively work with regulators to develop our combined exchange,” said Binance Japan CEO Takeshi Chino.
Currently, 11 pairs are available for trading on the SEBC platform: BTC/JPY, ETH/JPY, BCH/JPY, XRP/JPY, LTC/JPY, ETC/JPY, XEM/JPY, MONA/JPY, ADA/JPY, XYM/JPY and COT/JPY.
Earlier it was reported that the Japan Cryptocurrency Exchange Association plans to simplify the process of listing tokens for local regulated platforms.
Source: Bits
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