Japan's Financial Services Regulator Issues Binance Warning

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

By Jamie Crawley

Jun 25, 2021 at 12:47 p.m. UTC

Updated Sep 14, 2021 at 1:17 p.m. UTC

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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."

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Jamie Crawley

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