• Binance Japan will begin providing services to customers after June 2023.
• Sakura Exchange BitCoin (SEBC) will cease all existing services after May 31 and users have been advised to withdraw their holdings before that date.
• Customers wanting to join Binance Japan will have to re-apply for account opening and pass the necessary verification requirements.
Binance Japan Officially Launching in June
Binance, the world’s largest cryptocurrency exchange, is set to officially launch in Japan following months of preparations. The platform will start providing services after June 2023 as customers are required to pass verification requirements before they can join.
Sakura Exchange BitCoin Closure
In anticipation of the official launch of Binance Japan, Sakura Exchange BitCoin (SEBC) announced that its existing services would cease by May 31st this year. SEBC has encouraged users to withdraw their holdings before this deadline as any assets not withdrawn will be converted into Japanese yen based on the rate as of June 5th.
Verification Requirements for Joining
Those wishing to join Binance Japan upon its launch must re-apply for account opening and also pass the necessary verification requirements set out by the Financial Services Agency (FSA). In 2018, Binance left the Asian nation due to regulatory issues and speculation arose that it was subject to criminal charges. However, CEO Changpeng Zhao dismissed these rumors by asserting his organization was in “constructive dialogues” with local authorities at the time.
Returning After Regulatory Issues
Binance made plans to return back onto the Japanese market when it acquired SEBC last November for an undisclosed sum in order strengthen its presence within the region once more . Now with all preparations made, customers can look forward to using Binance Japan from June this year once they have completed all necessary verifications.
The imminent launch of Biance Japan marks a special milestone for both customers and investors alike who have waited patiently since 2018 until now . With all regulatory issues put aside , customers can rest assured that their investments are safe and secure when using this platform soon .