The cryptocurrency industry was once again taken with concern when Nikkei, a Japanese publication, reported that popular cryptocurrency Binance could be forced to shut down its operations in the country. In reality, Binance Japan regulations are coming in to play.
Elaborating on its report, Nikkei had mentioned that the Financial Service Agency (FSA) of Japan was planning to take a strict action against the cryptocurrency exchange due to its operations in the country without proper registration.
It further stated that Binance does not comply with the regulatory requirements of the FSA, and failure in reporting the information of cryptocurrency traders as per the defined process is one of the reasons why FSA suspects that Binance does not employ “effective measures” when it comes to anti-money laundering.
Read more: https://cryptoflash.io/posts/635674