Binance Restrict Japanese residents from its exchange

Must Read

With a 110% increase in crypto wallet adoption rates in 2020 are we set for another Bitcoin boom?

2020 has been a massive year for crypto adoption. In July alone, over 3.5 million crypto wallet app downloads...

DeepTradeBot: The innovation of large companies at your service

DeepTradeBot is a collection of automated trading tools developed by Deep Neuro Networks LTD, a London, England-based company...

Flyp.me Instant Crypto Exchange Now Supports REN Token Trading

Decentralized finance is leading the way of the cryptocurrency industry, with the REN Protocol at...
- Advertisement -BTCClicks.com Banner
Earn Free Bitcoin

In a Jan. 15 announcement on Binance’s Japanese support website, the exchange revealed it would restrict access to residents of Japan at an unspecified later date.

The restriction is said to be implemented gradually, with details to be revealed later, according to the announcement.

Currently, there are no restrictions in place and Japanese users are able to operate the exchange normally. 

Binance was previously headquartered in Japan after exiting China. As reported in March 2018, the exchange moved its operations to Malta following an official warning by Japanese regulators due to its lack of a national exchange license.

Several exchanges have since registered with the regulator. Binance rival Huobi had obtained the license in January 2019, while Japanese corporation LINE’s BitBox exchange secured it in September.

It is possible that Binance encountered similar regulatory difficulties despite not legally residing in the country. Crypto exchange Kraken ceased to provide services to Japanese residents in April 2018, admittedly citing rising costs of doing business — potentially due to the licensing requirement.

- Advertisement -
- Advertisement -

Latest News

Wyoming Amends Insurance Code to Allow Insurance Companies to Invest in Bitcoin & other Cryptos

In the first provision of its kind, Wyoming is allowing the domestic insurers to invest...
- Advertisement -Earn Free Bitcoin

Flyp.me Instant Crypto Exchange Now Supports REN Token Trading

Decentralized finance is leading the way of the cryptocurrency industry, with the REN Protocol at the front. REN Protocol is...

BLOCKCHAIN OVERCOMES POSSIBILITY OF FRAUD, LACK OF TRANSPARENCY AND TRUST IN THE GAMBLING INDUSTRY

DATE: 07/08/2020 In a recent study carried out by the UK Gambling Commission reveals that the gambling industry has...

The Kuailian Ecosystem, Bringing Blockchain Technology To The World

10 years have passed since the birth of Bitcoin and the first use of Blockchain, a technology that has not stopped evolving,...

Its’ Finally Here A 100% Local Non-Custodial P2P Cryptocurrency Marketplace.

Finfreeotc is soon launching a one of a kind peer to peer cryptocurrency market place. Their marketplace is 100% non-custodial,...