Binance Reenters Japanese market; Obtains Sakura Exchange BitCoin (SEBC)
Today, November 30th, 2022, the largest crypto exchange in the world, Binance, has announced that it has obtained the Japanese exchange Sakura Exchange BitCoin (SEBC) completely. The announcement came as a surprise and can be said to have elicited two kinds of feelings in the crypto industry.
Binance Obtains Sakura Exchange BitCoin (SEBC)
Following the train of events in the crypto industry recently, especially with the very recent bankruptcy cases of the popular crypto exchange, BlockFi, one could say that the crypto community is starting to point fingers and lose faith in the system.
Community members have taken to their social media pages to predict which crypto exchange is going to declare bankruptcy next, and so far, the biggest crypto exchange globally, Binance, has not managed to escape the reaction given to its counterparts as well.
This came as a reawakening shock when Binance announced earlier today that it was procuring the Sakura Exchange BitCoin (SEBC) and making a new break into the Japanese crypto market.
This means that the crypto exchange, Binance, is now officially regulated by the Japan Financial Services Agency (JFSA). Also, according to Takeshi Chino, who is the general manager of Binance, the Japanese branch of Binance making a new break into the Japanese cryptocurrency industry is a really big deal.
Takeshi Chino said that Japan’s robust economy, sophisticated tech ecosystem, and willingness to accelerate blockchain-related developments make up the perfect recipe for an astounding big break in the crypto industry, and Binance is ready to be part of the facilitators.
Binance Stops Registration Of New Japan Users On Its Website
In a completely different stroke, Binance has made public its decision to put a stop to new registrations by users from Japan on its website.
According to the announcement made earlier today, the development is necessary for a bid to ensure that the crypto exchange still complies with the local rules and regulations of Japan.
Starting from 8:00 UTC on Wednesday, November 30th, 2022, the announcement has taken effect, and new registrations may not occur.
However, this does not affect their already established customers, as they could still carry on with their business.
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at [email protected] if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. CreditInsightHubs is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.
