Japanese regulator issues another warning to Binance
The Financial Services Agency (FSA) of Japan has issued a fresh warning to the cryptocurrency exchange Binance for operating in the country without a licence.
The primary aim of the notice is investor protection. The document does not specify whether the regulator intends to bring any claims against the trading platform.
A Binance spokesperson told ForkLog that the exchange is not currently conducting exchange operations in Japan and is not attracting local users.
“We follow a collaborative approach in our dealings with regulators and take our legal obligations seriously,” the company stressed.
In 2018, the FSA warned Binance about the need to obtain a licence to continue operating in Japan. At that time, the regulator tightened the risk-assessment process when opening new cryptocurrency exchanges.
In April 2021, the FSA announced the addition of FATF provisions FATF for anti-money laundering and counter-terrorist financing measures for local companies dealing with digital assets.
In late May 2021, the FSA issued a similar warning to the cryptocurrency exchange Bybit.
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