Binance will begin operating in the Japanese market on Friday, , according to an announcement published.

Binance, which is the largest crypto exchange in terms of trading volume, bought regulated crypto exchange Sakura Exchange BitCoin SEBC (November last year). The notice stated that existing services on SEBC would be terminated by May 31, and a new service, under the proviso name “Binance Japan”, will launch in June 2023.

SEBC supports 11 trading pairs. Tokens listed on exchanges in Japan require vetting by the Japan Virtual Currency Exchange Association.

Japan’s crypto exchanges are subject to strict regulations. Japan has strict regulations for crypto exchanges. It requires that customer assets and exchange assets are separated. Most exchange assets must be stored in cold wallets, and customers’ fiat money must be held by a Japanese bank or trust company.

The Japanese financial authorities had previously warned Binance that it was operating without permission in Japan.

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Parikshit Miishra is the editor.