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Two years earlier, the exchange was warned by Japanese regulators that it was operating in the country without permission.
Binance Japan, a subsidiary of Binance, has recently launched its platform and will commence user onboarding in Japan. It is noteworthy that two years ago, the exchange had received warnings from regulators for operating in the country without proper permission.
Existing customers in Japan can migrate to the local subsidiary from Aug 14.
On the platform, users can avail spot trading, earn products, and access a non-fungible token (NFT) marketplace. The selection includes 34 tokens, and notably, Japan now has access to Binance Smart Chain’s native token BNB for the first time.
Binance, acquired regulated crypto exchange Sakura Exchange BitCoin (SEBC), in November last year.
In recent months, Coinbase (COIN) and Kraken halted their operations in the country, attributing the reason to “market conditions.” At the WebX conference in Tokyo last week, Japan’s policymakers indicated that they are currently developing additional Web3 related policies.
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