Binance Won’t Shut Down Japan Operations, But Must Become Compliant

[kreslik.news]

The Japanese Financial Services Agency (FSA) has issued a warning to the Hong-Kong based Binance cryptocurrency exchange for operating in the country without proper registration and licensure. The warning is the latest action in an effort to ramp up regulatory enforcement on cryptocurrency exchanges in the country following the massive Coincheck hack.

The FSA specifically cited the fact thatBinance had probably allowed residents of Japan to open trading accounts without appropriately confirming their identities. The warning explained that Binance would face criminal charges if the exchange continued to operate without a license.

In a Reuters report, an ... (read more)