Japan’s Central Bank Issued Warning to Binance
March 22, 2018
Financial Services Agency of Japan has sent a warning notice to the prominent crypto exchange Binance that it is lacking license for carrying out activity in the country. Following this, rates of most cryptocurrencies turned red and BTC rate has dropped below $9,000 by the moment of this article being written.
As Twitter blogger Whale Panda says, the FSA’s decision is quite right taking account of fact that the famous platform relieves its users from going through KYC (Know Your Customer) procedure until funds limit reaches 2 BTC.
This January Binance representatives reported on conducting meaningful dialogues with FSA and assured crypto community of the soonest handling the issue.
Remember, after hack of Coincheck at the end of January FSA announced holding inspections at all local crypto exchanges as well as toughening requirements for registering platforms.