Japan targets Binance, 4 other crypto exchanges as Bittrex bows out of the U.S. market cryptocurrencyexchange crypto Binance
- The global crypto clampdown continues to unfold as Japan has become the latest country to take action against its growing cryptocurrency industry by issuing warning letters to several foreign crypto exchanges informing them that they have been operating in the country without the proper registration.
The regulations in question were first introduced in 2020 and require all cryptocurrency exchanges to register with the agency and obtain a license in order to operate in Japan. The warning from Japan is just the latest in a growing list of Binance’s woes after authorities in the U.S. sued the exchange and its founder Changpeng “CZ” Zhao for violating U.S. securities laws.
While many exchanges have chosen to work with regulators in an effort to continue providing services in certain jurisdictions, others have opted to close up shop and focus on more welcoming governments. Both Coinbase and Kraken, two of the largest exchanges in the U.S., have closed their operations in Japan due to challenging market conditions and the need to cut expenses and refocus their efforts.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Binance burns 1.6 billion LUNC, here’s how the token reactedThe Binance LUNC burn reached a total of 30.5 billion. LUNC’s price remains neutral but its developers have stayed active. As part of its monthly routine, cryptocurrency exchange Binance burned another round of Terra Classic [LUNC] tokens, Terra Finder disclosed. The 1 April action saw the exchange, which committed to the LUNC community proposal last […]
Read more »
Japan’s Ryuichi Sakamoto, composer of The Last Emperor film score, dies aged 71Oscar-winning Japanese composer famed for his scores for The Last Emperor, Merry Christmas Mr. Lawrence and other films, has died aged 71
Read more »
Japan protests China’s detention of citizen, escalating maritime actionJapan’s Foreign Minister protested in a meeting Sunday the detention of a Japanese national in Beijing and raised ‘strong concern’ about China’s escalating military activity near Taiwan and around Japan
Read more »
South Korea, U.S., Japan hold anti-North Korea submarine drillThe South Korean, U.S. and Japanese navies began their first anti-submarine drills in six months on Monday to boost their coordination against increasing North Korean missile threats, South Korea's military said.
Read more »
Japan's Ryuichi Sakamoto, composer of 'The Last Emperor' score, dies aged 71TOKYO — Ryuichi Sakamoto, the Oscar\u002Dwinning Japanese composer famed for his scores for “The Last Emperor,” “Merry Christmas Mr. Lawrence” and other epic films,…
Read more »
Japan protests China's detention of citizen, maritime actionJapan's Foreign Minister Yoshimasa Hayashi protested in a meeting Sunday with his Chinese counterpart the detention of a Japanese national in Beijing and raised 'strong concern' about China's escalating military activity near Taiwan and around Japan.
Read more »