The announcement was made by the company’s founder Changpeng Zhao at a conference in Tokyo. Binance acquired Sakura Exchange BitCoin in November 2022 and said it intends to create a platform that is fully compliant with local regulations.
Also at the event, Binance representatives revealed that the company may launch stablecoins, as Japan recently introduced laws that allow the country’s licensed banks and registered companies to issue tokens.
Binance is starting to expand aggressively in Asia, including South Korea and Thailand. The company has also launched a regulated digital asset platform in Kazakhstan.
Japanese authorities recently announced that they will introduce stricter measures to combat money laundering through cryptocurrencies. The new rules went into effect on June 1, 2023.