Is Binance Planning on Reentering the Japanese Market?
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Sources familiar with the matter told Bloomberg that the main reasons Binance is looking to regain its license in japan are because the Japanese government has eased its regulatory approach on the sector and the country shows massive potential for user growth.
A Binance spokesperson told Bloomberg that the cryptocurrency company is “committed to working with regulators and policymakers to shape policies that protect consumers, encourage innovation, and move our industry forward.” however, this spokesperson refused to comment on specific license filings, explaining that “It would be inappropriate to comment on any conversations with regulators.”
The crypto exchange left Japan in 2018 after the Japanese top financial regulator, the Financial Services Agency (FSA), warned about operating within the country without specific licenses. In June of 2021, Binance received another warning from the FSA, restating that the crypto exchange has been functioning as a crypto exchange service provider to Japanese customers without registration.
Following multiple inquisitions by regulators globally about operating illegally without a license, Binance has made regulatory compliance one of its key focuses. The giant crypto exchange previously noted that it plans to become a regulated financial institution.
Key Binance Coin Levels to Watch — September 28
The past few days and weeks have been notably uninteresting for Binance Coin (BNB), with the cryptocurrency remaining suspended within a choppy range pattern.
Over the last 24 hours, the cryptocurrency slumped below the $272 support, now resistance, mark as cryptocurrency bear eyes the $260 – $250 axis. That said, the $272 mark might as well be the last technical supporting factor holding BNB from a full-blown dump to the $250 mark. How the price holds on to the $272 level in the coming days will determine if we see the $260 – $250 area come into play again.
Meanwhile, my resistance levels are $272, $280, and $290, and my support levels are $260, $250, and $240.
Total Market Capitalization: $920.5 billion
Binance Coin Market Capitalization: $43.9 billion
Binance Coin Dominance: 4.77%
Market Rank: #5
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