Japan's FSA warns crypto exchanges for operating without proper registration and violating fund settlement laws.
In a warning letter released on Friday, Japan's Financial Services Agency said that a number of foreign cryptocurrency exchanges, including Binance, Bybit, MEXC Global and Bitget, have been conducting business in the country without proper registration, violating the nation's fund settlement laws.letter, the FSA stated that the listed exchanges had breached Japan's fund settlement regulations by conducting crypto asset exchange business without proper registration.
The FSA’s action follows a crackdown on unregistered crypto exchanges in the east Asian nation. In 2020, the FSA introduced newexchanges to register with the agency and obtain a license to operate in Japan. Binance being warned by the FSA, signifies the cryptocurrency industry in Japan and other nations is facing greater regulatory scrutiny. The risks associated with unregulated
exchanges, such as fraud, money laundering and market manipulation, are concerning regulators more and moresectors, the country has not cracked down on the industry as hard as some other larger economies such as the US.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Binance Card Updates Foreign Transaction Fees & Overseas ATM Withdrawal Fees for Users in Europe | Binance SupportThis is a general announcement. Products and services mentioned here may not be available in your region. Fellow Binancians, Effective from 2023-06-02 at 00:00 (UTC) , Binance Card will start ch...
Read more »
32 Trillion BabyDoge Giveaway to Follow Dogecoin (DOGE) Offshoot Listing on Major ExchangeDogecoin's offshoot, BabyDoge, achieves major exchange listing on Bybit dogecoin doge babydoge bybit shibainu shib flokiinu floki $doge $babydoge
Read more »
Binance vs. CFTC: Latest court battle could alter crypto landscape in USBinance has been walking on a regulatory tightrope around the globe, and over the years, it has received numerous compliance complaints.
Read more »
U.S. Government Case Against Voyager-Binance.US Deal Has 'Substantial' Merits, Judge SaysThe U.S. government bid to quash BinanceUS's buy of bankrupt crypto lender Voyager has 'substantial' merits, a judge has said. jackschickler reports .
Read more »
How to Stay Safe in Peer-to-Peer (P2P) Trading | Binance AcademyPeer-to-peer trading cuts out the needs for a third party. This has a number of benefits, but as with most things, it also has risks. Learn how to stay safe when trading P2P 👇
Read more »