FSA Claims Binance Operates in the Country Without License : Japan

Japan’s Financial service agency claimed that Binance is operating their business in Japan without license. Which is a part of illegal activities to violate laws.

Colin Wu, a Chinese Cryptocurrency reporter, covered this news report about Japan Financial Services agency vs Binance activities.

Colin Wu shared a tweet about the warning issues against Binance exchange to operate their Cryptocurrency business in Japan.

According to this tweet, shared by Colin Wu, FSC ( financial Services Agency) warned the biggest exchange of the Cryptocurrency market, Binance.

FSC claimed that Binance is allegedly doing their work in Japan without any License or permission.

And also other social media reports are saying that Binanace is giving their services without KYC verification which is hugely a part of basic Cryptocurrency law violation.

Here it should be noticed that FSA already planned to issue this warning notification against Binance in 2018 already but due to some reason they didn’t act in this matter.

Similar warning is also for Bybit getting to operate their work without license in Japan.

We can also see a report by Malta authorities that these exchanges have no permission ( in any direct or indirect way ) to run their exchange in Japan.

 Well this question was responded to by the head of Binance exchange ” calling this a “mix of truth, FUD & misconception’.

Since this is a very old matter, there is another recent matter regarding ByBit & KuCoin exchange for Money Laundering activities and securities issue, check here about this report.

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