Binance: no, regulators do not want to close us
Initial recent reports about Binance, a digital currency exchange based in Japan and operating with thousands of users, suggested that the Japanese financial regulators might have become too strict towards this kind of business and plan to close the exchange and cease all its operations.
As it turns out, the FSA (Japanese Financial Service Agency responsible for engaging with digital currency organizations similar to Binance and Coincheck) is not planning anything similar. The CEO of Binance has already rejected the rumors and told that the original rumor source, the press outlet called Nikkei, has demonstrated a perfect example of irresponsible journalism:
Nikkei showed irresponsible journalism. We are in constructive dialogs with Japan FSA, and have not received any mandates. It does not make sense for JFSA to tell a newspaper before telling us, while we have an active dialog going on with them.
— CZ (not giving crypto away) (@cz_binance) March 22, 2018
He has also noted that the situation in which the FSA first tells the press and informs the exchange only afterwards would be absolutely surreal, as one can read above. This might have been a red flag for those who don’t trust first press messages and prefer to wait for additional confirmation.
Binance has recently been in a situation when everybody thought something disastrous has happened with it. And it did - hackers have indeed managed to tamper with the internal payment structures, but Binance has enabled its financial transaction cancellation tools and effectively rewinded all illicit operations. More on that story can be read in a separate report by Bitnewstoday.
Image courtesy of VideoBlocks