FCA Japan has issued a warning to Binance cryptocurrency exchange, claiming it was engaged in cryptocurrency trading business without registration. This same warning has been issued to Bybit cryptocurrency exchange as well.
The warning by Financial Services Agency of Japan clearly mentions Binance’s CEO name, Changpeng Zhao, popularly known as just CZ on social media platforms like twitter.
While it may seem that this news only matters to Japanese citizens that are using binance, it is a bearish news for all cryptocurrency market as a whole as there are myriad markets where Binance could be operating without registration.
To many, Binance is the real ticking bomb that could be deflagrating on the whole crypto ecosystem. In comparison, this could be 3x riskier than Tether case which is a stablecoin issued by Bitfinex.
This is google translate version of aforementioned warning,
For those who engage in crypto asset exchange business without registration
Company-related 16 Cryptocurrency exchange company-related dish
Today based on 0 (0) 2
We have issued a warning and will announce it as follows.
Kei person name, etc.
representative of tinence Holdings Limited Chamoneng Zbeo Unknown A person who was engaged in crypto asset exchange business with Japanese residents through the Internet He operates tginance J, etc., which conducts crypto asset transactions on the Internet.