Binance re-enters Japan with acquisition of regulated Sakura exchange BitCoin – Crypto News – Crypto News
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Binance re-enters Japan with acquisition of regulated Sakura exchange BitCoin – Crypto News

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Binance returned to the Japanese market with the acquisition of regulated crypto exchange Sakura Exchange BitCoin (SEBC), according to a blog posts on wednesday.

See related articles: Binance to help S. Korea’s Busan build first city-backed exchange

Fast facts

  • Binance purchased 100% of shares in Sakura, without disclosing the exact value and terms of acquisition. SEBC is regulated by Japan’s Financial Services Agency (FSA).
  • Tokyo-based SEBC offers brokerage and advisory services, and trading of the Japanese yen against 11 cryptocurrencies.
  • Binance last operated in Japan in 2018, the same year that the FSA issued it a warnings for not having a license. In 2021, Binance received a similar warnings for failing to comply with registration rules.
  • Takeshi Chino, general manager of Binance Japan, said the Japanese market will play a key role in crypto adoption and is poised for a blockchain update, and that Binance will “actively work with regulators.”
  • In Asia, Binance operates through partnerships in countries such as thailand, malaysiaand India,

See related articles: Crypto exchange Binance in regulators’ crosshairs as scrutiny mounts

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