Binance CEO Denies Shut-Down by Japanese FSA


On Wednesday rumors ran amok that cryptocurrency exchange Binance would be shut down in Japan by their top securities regulator. Japanese news source Nikkei reported that Japan’s Financial Services Agency (FSA) planned to issue a warning to Binance, who moved their operations from Hong Kong to Japan to escape the restrictive legislation in China.

Today the CEO Changpeng Zhao has responded on twitter, saying that the coverage from Nikkei constituted “irresponsible journalism.”

Binance was established in 2017, and has quickly grown to support over 100 currencies and 6 million traders on the exchange, making it one of the largest in the world.

What we can now deem as a simple slap on the wrist from the FSA is in response to reports that Binance has been operating without Japanese government approval. According to Zhoa, the exchange is in “constructive dialogue with Japan FSA, and have not received any mandates.”

More: Nikkei Report: Japan To Issue Warning Against Crypto Exchange Binance, Twitter Cries FUD
Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts