Binance to Re-enter Japan’s Crypto Market After Acquiring Regulated Entity SEBC

May 03, 2023 | News On Japan

May 03, 2023 (blockzeit.com) - Binance is getting ready to re-enter the Japanese market by buying a 100% share in Sakura Exchange BitCoin (SEBC), a registered supplier of crypto services.

The move marks Binance’s re-entry into Japan after a four-year absence, during which the country’s financial authorities issued a warning that the exchange was operating in the country without permission.

To ensure regulatory compliance, Binance CEO Changpeng Zhao announced that the new service, provisionally named “Binance Japan,” would launch after June 2023. Existing services on SEBC will terminate on May 31, 2023, ahead of the new launch.

SEBC Exchange has recently announced a significant change in its operational policy. According to the new directive, users of the platform must withdraw their cryptocurrency assets by May 28; failing to do so will result in the automatic conversion of assets into Japanese yen. ...continue reading

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