Binance Pursues License to Operate in Japan 4 Years After Leaving [Report]:
According to reports, Binance is currently seeking for a permit to operate in Japan.
The sudden interest follows the relaxing crypto laws in the world’s third largest economy under Prime Minister Fumio Kishida.
According to Bloomberg report, Binance’s renewed interest in the Japanese market is guided by the country’s new economic policy that promises a fair share to the digital assets industry.
“Japanese Prime Minister Fumio Kishida’s agenda for reinvigorating the economy under the rubric of “New Capitalism” includes supporting the growth of so-called Web3 firms. The term “Web3” refers to a vision of a decentralized internet built around blockchains, crypto’s underlying technology,” Bloomberg reported.
Although this development looks sketchy, a Binance spokesperson refused to disclose details concerning the matter as it is inappropriate to comment on an ongoing dialogue.
“[Binance is] committed to working with regulators and policymakers to shape policies that protect consumers, encourage innovation, and move our industry forward,” the spokesperson added.
Binance, the world’s largest crypto exchange, was twice warned – in 2018 and 2021 – by the Japanese authorities for allegedly operating in the country without licenses.
In 2018, Japanese regulators accused Binance of letting people open accounts on its trading platform without proper identifications.
However, Binance has been known for its proficiency towards crypto adoption and the good name it has for corporation with regulatory bodies.