Binance, the largest cryptocurrency exchange by trading volume, is preparing to return to the Japanese market. Speaking at a teleconference, CEO Changpeng Zhao (CZ), according to Bloomberg’s report, stated that he wants the stock market to resume official operations in Japan in August.
The leading exchange acquired Sakura Exchange BitCoin, which was active in Japan last November. Speaking to the crypto press after the news of the purchase, a Binance official made the following statements:
“Japan has great potential for the booming Web3 industry. The key role of the Asian giant in the adoption of cryptocurrencies I believe you will play”
The giant cryptocurrency exchange made an important announcement in May 2023 that concerned local users. Binance has announced that it will stop serving Japanese customers through the global site at the end of the year.
Binance and Japan Relationship
The world’s most well-known crypto trading platform has an important history with Japan. Japan introduced a set of licensing requirements for crypto companies operating in the country in 2017. Authorities warned the Binance exchange that it did not have the necessary licenses in 2018 and 2021. According to the information reflected in the press, the giant stock market made an official application for a license in September 2022.
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