Japan's Financial Services Regulator Issues Binance Warning

The Financial Services Agency said Binance isn't registered to do business in the country.

AccessTimeIconJun 25, 2021 at 12:47 p.m. UTC
Updated Sep 14, 2021 at 1:17 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Japan's financial regulator has warned that cryptocurrency exchange Binance is operating in the country without permission.

  • The Financial Services Agency (FSA) issued the warning Friday that Binance is not registered to do business in Japan.
  • Binance was warned by the FSA in March 2018 for the same reason. CEO Changpeng "CZ" Zhao spoke out against at reports at the time that Binance was subject to criminal charges by the FSA, claiming that the exchange was in "constructive dialogues" with the regulator over the matter.
  • Last month, the FSA issued a similar warning concerning Bybit about offering crypto services in the country despite not being registered to do so.
  • "Binance does not currently hold exchange operations in Japan, nor do we actively solicit Japanese users," a Binance spokesperson told CoinDesk. "As you can understand, we do not comment, as a matter of policy, on specific matters related to any regulators."

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.