The giant digital currency exchange “Binance” announced the full resumption of its services in Japan next month, as stated by its founder, Changpeng Zhao (CZ). The largest market for digital asset trading is making a comeback to the Japanese market after previously announcing the suspension of its services on its global platform.
Full Services in Japan
Starting from August, Binance will begin offering its full services on its new platform in Japan following its acquisition of the regulated Japanese exchange “Sakura Exchange Bitcoin” in November 2022. This acquisition allows Binance to expand its operations in the country after notifying Japanese users earlier this year that it would gradually halt services on its global platform by the end of November.
Praise for Japan’s Digital Legislation
Binance’s founder praised Japan for being a leader in creating a digital regulatory environment and an example for the rest of the world. Japan has had clear regulations for digital currencies since 2017 and continues to improve legislation concerning digital currency exchanges. In June, it passed legislation for digital stability. Thus, Japan is considered a key partner to emulate in this field.
Expansion in Asian Markets and Growing Interest
Binance has been expanding its presence in other Asian markets, such as South Korea and Thailand, amidst increasing pressure and scrutiny from regulatory authorities in various countries worldwide, including the United States, where it faces lawsuits from financial and commodity regulatory bodies.