Japan’s Financial Services Agency (FSA) issued a warning to crypto exchange Binance, indicating that the exchange was operating in the country without registering with the regulator. The validity of the notice has been confirmed by a source close to the matter.
In 2017, the FSA began a registration process in Japan that required crypto companies to file with the regulator in order to continue operating.
The move was a reaction to a number of hacks and incidences of ill-equipped teams managing crypto businesses, specifically exchanges. The fall of Mt.Gox in 2014 is perhaps the most memorable, but another report revealed that over $500 million was lost to hacks in the first half of 2018.
Binance May Have Violated Securities Laws With 'Stock Tokens’: German Watchdog
Today’s warning is Binance’s second from the FSA. The first was issued in 2018, after which the exchange moved its operations to Malta (before again moving to the Cayman Islands).
It now appears that users located i
Źródło: https://decrypt.co/74521/japans-finance-regulator-warns-binance-is-operating-without-registration
