Japan Regulator Warns Binance, CEO Cries Foul

Nikkei reported yesterday that Japan’s Financial Services Agency is expected to send a warning to a major cryptocurrency exchange for operating in the country without a license.

Nikkei said that the FSA may file criminal charges against Hong-Kong based cryptocurrency exchange Binance if it does not suspend its Japan operations. However, CZ, the exchange’s CEO, called the report ‘irresponsible’ and revealed that they were already engaged in constructive dialogue with the FSA and have not been given any mandates.

Binance is believed to be the world’s biggest cryptocurrency exchange, and it is said that a significant number of investors in Japan are starting to use it instead of local exchanges due to cheaper fees.

Source: Nikkei Asia

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