Binance, whose path was cut off in the USA, took its first step into the Japanese market. In the near future, 34 altcoins will be available to Japanese users on Binance. Regulatory approval came after two years of investigation.
Binance officially launches crypto trading in Japan
A subsidiary of Binance Japan is starting to serve its users on its newly launched platform in Japan. However, the exchange was warned two years ago by Japanese regulators that it was operating without permission in the country. Existing customers in Japan will be able to trade on Binance Japan from August 14.
Users will be able to access spot trading, earn products, and access the NFT market on Binance Japan. They will also have the opportunity to trade 34 tokens, including BNB, Binance Smart Chain’s native token made available for the first time in Japan.
We’re proud to announce that #Binance has officially launched in Japan as Binance Japan K.K.
Users in the country now have access to more tradable tokens than any other exchange, with Spot and Earn products available.
Find more details below.https://t.co/grxPYSsp84
— Binance (@binance) August 1, 2023
Here are those 34 altcoins opened to users in Japan
Binance announced in the official announcement that it will start its transactions with 34 cryptocurrencies in the first place. The altcoins in question with BTC:
- BTC – Bitcoin
- ETH – Ethereum
- BNB – BNB Coin
- ADA – Cardano
- ALGO – Algorand
- ASTR – Astronaut
- ATOM – Cosmos
- AVAX – Avalanche
- AXS – Axie Infinity
- BAT – Basic Attention Token
- BCH – Bitcoin Cash
- CHZ – Chiliz
- DAI – Dai
- DOGE – Dogecoin
- DOT – Polkadot
- ENJ – Enjin Coin
- ETC – Ethereum Classic
- IOST – IoTeX
- JASMY – Jasmine Token
- LINK – Chainlink
- LTC – Litecoin
- MATIC – Polygon
- MKR – Maker
- ONT – Ontology
- QTUM – Qtum
- SAND – The Sandbox
- SHIB – Shiba Inu
- LEFT – Left
- TRX – TRON
- XEM – NEM
- XLM – Stellar
- XRP – Ripple
- XTZ – Tezos
- ZIL – Zilliqa
Confirmation came after two years of investigation
Two years ago, Binance was warned by Japanese regulators that it was operating without permission in the country. His entry into the country began with a backdoor move he launched last year. Binance’s move, which we quoted as Kriptokoin.com, was especially effective on Japan-related altcoin prices at that time.
The leading exchange acquired the regulated crypto exchange Sakura Exchange BitCoin (SEBC) in November last year. Meanwhile, Coinbase and Kraken have suspended operations in Japan in recent months, citing “market conditions”. However, Japan’s policy makers report that they are working on more policies related to Web3.
In June, Binance faced challenges in most countries following SEC and CFTC lawsuits in the US. Europe in particular has forced it to stop selling privacy coins like XMR. The exchange is currently in a legal battle with the SEC. In the most recent developments, a motion of denial has been filed against the CFTC lawsuit. Finally, the Nigerian Securities and Exchange Commission (SEC) has decided to outlaw Binance in its country.
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