Binance Launches New Japanese Crypto Trading Platform to Comply With Regulations
Binance, one of the world's largest cryptocurrency exchanges, recently launched a new trading platform in Japan, as part of its efforts to comply with local regulations. The platform, called Binance Japan, will allow Japanese users to trade cryptocurrencies using the local currency, yen.
This move comes after Binance was forced to withdraw from Japan in 2018, following a crackdown on unregistered exchanges by the country's financial regulators. Since then, the company has been working to establish a compliant presence in the country, and the launch of Binance Japan is seen as a major step forward in this effort.
Binance Japan will operate as a separate entity from the main Binance exchange, and will be subject to strict regulatory requirements, including Know Your Customer (KYC) and Anti-Money Laundering (AML) checks. The platform will also be required to maintain a high level of security to protect user funds and prevent cyber attacks.
The launch of Binance Japan is significant not only for the company itself, but also for the broader crypto industry in Japan. The country has long been considered a pioneer in the crypto space, with a number of major exchanges and projects based there. By establishing a compliant presence in Japan, Binance is helping to cement the country's position as a key player in the global crypto ecosystem.