Binance receives a warning letter from the Japanese regulator

Japan’s top financial regulator has issued a warning to cryptocurrency exchange Binance.

In a statement published by the Financial Services Agency on Friday, the agency confirmed Thursday’s news that suggested Binance was about to be warned by the financial watchdog given its lack of registration with the regulator.

Responding to the FSA statement, Zhao Changpeng, Binance’s CEO, confirmed receipt of the warning letter and stated the firm’s legal team is in dialogue with the agency.

According to data from Alexa, Binance currently sees roughly 9 percent of its traffic visit from Japan.

 


Write: Sara Bauer


 

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