Breaking: Binance Japan Announces Official Opening Date

The world’s largest crypto exchange Binance entered the Japanese market by acquiring 100% of Japan-based crypto exchange Sakura Exchange Bitcoin Co. (SEBC) in November last year. Binance Japan is now opening its crypto exchange operations for Japanese customers in June, Sakura Exchange Bitcoin revealed on Friday.
Binance Japan Opening Its Doors in June
Crypto exchange Sakura Exchange Bitcoin in an announcement on April 28 said it will end its crypto exchange and brokerage services in May and reopen as Binance Japan near June 23. Binance Japan is now a registered crypto exchange under the Japan Financial Services Agency (JFSA).
As per the announcement, Sakura Exchange Bitcoin will end its services on May 31, suspending all services until the opening of Binance Japan. Users must withdraw their crypto assets ahead of deadline. Crypto Assets remaining in the account after the deadline will be converted to Japanese yen based on the conversion rate as of June 5 and refunded to customers’ registered bank account.
Further, customers are required to re-apply for account opening and reviews including identity verification at the time of use. The account opening information for Sakura Exchange Bitcoin is not carried over to the new Binance Japan.
Binance to actively comply with the regulator and ensure better services for local users. It will also help Japan take a leading role in crypto and support a responsible global environment for cryptocurrencies.
Crypto Adoption Rising in Japan Amid Easing Regulatory Burden
Japan relaxed regulations after continuous efforts of Prime Minister Fumio Kishida to ease crypto regulations for strengthening Japan’s economy. The Japan Virtual and Crypto Assets Exchange Association (JVCEA) also eased the listing of virtual coins and market entry for foreign companies and crypto exchanges such as Binance.
FTX Japan remained operational following the collapse of FTX showing the strong regulatory landscape in Japan to protect its investors. FTX Japan is planning to open operations soon.
Also Read: Crypto Market Braces For $4.6 Billion Bitcoin and Ethereum Options Expiry
- FLOKI Makes History With First ETP in Europe as Price Surges 30%
- BNB Rally to $1,300 Will Continue As Binance Hits Crucial Q3 Milestone, Says Expert
- Trump’s Real Estate Moves On-Chain as Hut8 Adds WLFI Tokens to Boost Treasury
- ASTER Token Defies Crypto Market Consolidation With 14% Upside, Expert See Next Stop at $3
- MetaMask Gears Up for Major MASK Token Airdrop With Reward Points System Launch
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
- Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying