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Binance has expanded to Japan by purchasing the legally recognized exchange Sakura Exchange BitCoin (SEBC). The agreement's terms were kept confidential. https://twitter.com/binance/status/1597867001208197120 According to the company's Wednesday announcement, the purchase represents Binance's first license in East Asia. Recently, Binance obtained legal permits or approvals in France, Spain, Bahrain, Italy, Abu Dhabi, New Zealand, Dubai, Kazakhstan, Poland, Lithuania, and Cyprus.
Binance Makes a Return to Japan to the SEBC Purchase
The Japan Financial Services Agency (JFSA) granted SEBC's license last month. SEBC was established in 2017. SEBC provides brokerage and consultancy services. There are 11 trading pairs supported right now. The agreement signifies Binance's return to Japan. The JFSA filed a second caution against Binance last year, claiming it is still committing fraud in the nation. At the time, Binance declared that it does not presently operate any exchanges in Japan, and neither does it aggressively seek out Japanese users.
Crypto Acceptance Influenced by the Japanese Market
Takeshi Chino, general manager of Binance Japan, stated that the acceptance of cryptocurrencies in the future would be significantly influenced by the Japanese market. It is already gearing up for significant blockchain adoption since it has one of the most sophisticated technology ecosystems and one of the world's largest economies. Today, Binance announced in a different but similar statement that it would no longer accept new users from Japan on its primary Binance.com website. The business claimed that the current users won't be impacted by the modifications and may keep using Binance.com's offerings of goods and services. The announcement by Binance may result in SEBC accepting new users and allowing SEBC to continue running autonomously.