ChainCatcher news, five years after exiting the Japanese market, Binance has initiated plans to transition its Japanese subsidiary to a new platform. Binance will begin establishing a new, fully regulated subsidiary in Japan.Previously, Binance acquired the regulated cryptocurrency trading platform Sakura Exchange Bitcoin (SEBC) in November 2022. As part of the transaction, SEBC will cease its current services by May 31 and will reopen in the coming weeks under the name Binance Japan, requiring Japanese users to register with the new entity. The migration will be available after August 1, 2023, and will include a new verification process (KYC) to comply with local requirements.Binance previously revealed that the remaining funds on the SEBC trading platform will be automatically converted to Japanese yen and transferred to users' bank accounts starting in June. (source link)

ChainCatcher news, Binance announced the acquisition of 100% of the shares of the Japanese cryptocurrency asset trading platform service provider Sakura Exchange BitCoin (SEBC), officially entering the Japanese market and accepting regulation from the Japanese Financial Services Agency (JFSA). After the acquisition, Binance will provide compliant services in Japan through SEBC to promote the establishment of a responsible cryptocurrency development environment globally.Binance Japan General Manager Takeshi Chino stated, "In the future process of cryptocurrency asset popularization, the Japanese market will play a key role. We will actively cooperate with regulatory agencies to create a brand new trading platform for local users in a compliant manner. Binance is eager to help Japan become a leader in the cryptocurrency asset industry." (Source link)