Financial Services Agency of Japan is warning Binance about operating in the crypto field without a license
Chinese journalist Colin Wu has just announced that Binance is accused of operating in Japan without the proper license.
Hey Binance CEO Changpeng Zhao (CZ), someone is looking for you
Source: WuBlockchain/Twitter
On June 25, the Japanese financial watchdog FSA (Financial Services Agency) issued a warning to Binance. They said that one of the largest cryptocurrency exchanges in the world was engaged in business in the crypto field without registration.
FSA planned to issue a similar warning to the exchange back in 2018 too. Prior to this, FSA issued a warning to Bybit.
Last year, it was reported that the Maltese authorities also stated that they have not issued any license to the exchange. They also added that it has nothing to do with the country, both geographically and in terms of regulatory questions.
Many on the crypto Twitter started insisting on Changpeng Zhao addressing this issue. has responded, CZ calling these reports a mix of truth, FUD & misconception.
“Binance is not based in Malta, nor does it operate there, since the exchange exists in the blockchain world and operates from various parts of the planet”, he said.
Currently, this news has not caused a significant reaction for Binance Coin (BNB). BNB is down just 3% over the past 24 hours, trading around $290.
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