Binance Announces End of Service for Japanese Residents Global Version and Plans to Launch Japanese Version This Summer

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Binance Global to be ineligible for residents of Japan

Binance, the largest crypto asset (virtual currency) exchange, announced on the 26th that in order to comply with Japanese regulations, the scheduled opening date of the new platform “Binance JAPAN (tentative name)” for Japanese residents and the global platform for Japanese residents. announced the end of service for the platform.

Binance JAPAN is expected to be available this summer, with more details to be announced in the coming months. A new identity verification (KYC) for existing users of the global platform to migrate to Binance JAPAN will be available from August 1, 2023 to November 30, 2011.

Users who have not completed KYC cannot buy or sell crypto assets (virtual currencies) on Binance JAPAN, and can only withdraw assets.

On the other hand, due to the operation of Binance JAPAN, it is expected that residents in Japan will not be able to use Binance Global completely after November 30, 2023.

The stocks handled by Binance Global include many popular stocks that are not listed on the Japanese market at the moment, such as the native token “BNB”. It looks like we’ll get together.

In order to increase the handling of domestic unlisted stocks, it is necessary to go through the examination of the Financial Services Agency and JVCEA and register it on the so-called “white list”.

As of May 2011, users residing in Japan were not allowed to open Binance derivatives accounts, and new option trading services were suspended after June. From October this year, the service will be restricted in stages, such as opening new positions in margin trading.

Sakura Exchange Announcement

Sakura Exchange Bitcoin Co., Ltd. (SEBC), which announced the transfer of all shares to Binance (AP) Holdings Limited, an affiliated company of Binance CEO Changpong Zhao, and the transition to a new management structure, announced this April. In May, it announced that “Binance JAPAN (tentative name)” was scheduled to start after June 23.

The personal information registered when opening an SEBC account will not be carried over, and it is necessary to perform KYC (identity confirmation) again.

connection:“Binance JAPAN (provisional)” to start service after June this year

The post Binance Announces End of Service for Japanese Residents Global Version and Plans to Launch Japanese Version This Summer appeared first on Our Bitcoin News.

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