Cryptocurrency Q&A Why is Binance not working in Japan?

Why is Binance not working in Japan?

Luca Luca Sat Jun 08 2024 | 7 answers 1399
I've been wondering, why isn't Binance operational in Japan? It's such a popular cryptocurrency exchange platform globally, so it's surprising to find it unavailable in such a technologically advanced country. Could it be due to regulatory issues? Or maybe there's some specific legal hurdle preventing its entry into the Japanese market? I'd really like to understand the reasons behind this. Could you shed some light on this matter for me? Why is Binance not working in Japan?

7 answers

Raffaele Raffaele Mon Jun 10 2024
However, recently Binance Exchange has announced a significant change in its operations. The exchange, which had been serving Japanese crypto investors, has now decided to discontinue its services in Japan.

Was this helpful?

289
64
SejongWisdom SejongWisdom Mon Jun 10 2024
On 27th May 2023, Binance Exchange made the announcement that it will be shutting down its services for Japanese customers by the 30th of the same month. This decision came after the exchange failed to obtain regulatory approval from the Japanese local regulatory bodies.

Was this helpful?

230
81
Silvia Silvia Mon Jun 10 2024
The lack of regulatory approval poses a significant challenge for Binance Exchange in Japan. Operating without the necessary regulatory clearance can expose the exchange to legal risks and operational challenges.

Was this helpful?

52
25
Valentina Valentina Mon Jun 10 2024
Japanese crypto investors, who have been relying on Binance Exchange for their trading needs, will now have to look for alternative platforms. This change may disrupt their trading strategies and require them to adapt to new platforms and interfaces.

Was this helpful?

264
31
ethan_thompson_journalist ethan_thompson_journalist Mon Jun 10 2024
Cryptocurrency exchanges play a pivotal role in the global finance landscape, facilitating trades and investments across borders. Among these exchanges, Binance Exchange has been a notable player, providing services to a wide range of crypto investors.

Was this helpful?

243
81
Load 5 more related questions

|Topics at Cryptocurrency Q&A

Get the BTCC app to start your crypto journey

Get started today Scan to join our 100M+ users

The World's Leading Crypto Trading Platform

Get my welcome gifts