Japan: FSA reportedly warns Binance against operating without a license
FSA is Japan’s Financial Services Agency, has warned against Binance offering services in the country without authorization.
Japan is considered by some to be the home of Bitcoin’s founder Satoshi Nakamoto, thanks to the famous pseudonym. Japan is among the few nations worldwide to accept cryptos with open arms.
According to reports, Japan’s financial watchdog has issued Binance a warning for operating in Japan without complying with its regulatory norms. Chinese journalist Colin Wu confirmed the aforementioned development by sharing a copy of the notice the crypto-exchange has allegedly been issued.
Japan’s Financial Services Agency (FSA) has warned the world’s largest crypto-exchange about the license that is mandatory for it to operate in the crypto-space in Japan. This is the second warning by the Japanese financial market regulator. The FSA had already warned Binance once back in 2018. Earlier in February last year, the Malta Financial Services Authority (MFSA) also issued a warning to the exchange with the same allegation that it was not authorized to operate in its country’s crypto-sphere.
