"Don't worry everyone, Binance actually has another plan."
As part of its efforts to comply with regulatory standards, cryptocurrency exchange giant Binance announced on Saturday that it will stop offering digital asset services to Japanese residents from November 30, 2023.
Currently, the crypto exchange is in the process of developing its local platform called Binance Japan which will be launched in the summer of 2023.
Please note that the platform is aimed at specifically catering to the needs of users, where it not only provides compliance but also a user-friendly trading experience.
In addition, Binance will offer a migration link that will allow users in Japan to complete their Know Your Customer (KYC) process to ensure any exchange goes smoothly.
Through an official statement issued, the link can be accessed from 1 August 2023 until 30 November 2023, therefore users should complete their respective KYC procedures to comply with the new rules.
It is well known that Japan which aims to create a safe and transparent environment for investors including consumers has acted quickly in issuing guidelines to crypto exchanges.
On the other hand, Binance, which has expanded its operations across international borders in recent months, has obtained a Digital Asset License from the Ministry of Finance of Thailand to establish a trading platform called Gulf Binance.
