Binance to Return to Japan After Sakura Exchange Shuts Down

After years of regulatory struggles, Binance will finally return to Japan, after shutting down Sakura Exchange Bitcoin.

Continue reading at DailyCoin.

View Details

Liquid Partners with Binance to Enhance Identity Verification with eKYC Solution in Japan

Liquid Inc. teams up with Binance to provide eKYC identity verification in Japan, leveraging AI-based facial authentication for secure and compliant user verification. (Read More)

View Details

BNB Nears $250 Level As Market Suffers Volatility; What’s Driving It?

Binance’s utility coin BNB has posted significant gains, surprising investors as the broader crypto market slumps. Bitcoin and Ethereum, including most altcoins, have gone on recess while BNB surges amid rapid expansion plans on the Binance ecosystem. BNB’s spike on Tuesday, August 1, hinged on Binance’s announcement about the asset’s debut in the Japanese market through its newly launched subsidiary, Binance Japan. BNB jumped dramatically from $236.8555 to $246.0655, a nearly 4% increase, immediately after the news circulated the market.  BNB Price Bullish Amid Japanese Debut It is noteworthy that BNB is launching on Binance Japan for the first time since the history of Binance. Moreover, Binance Japan is the only Japanese exchange offering the token on its platform. Therefore, venturing into a new market is like achieving a major milestone for BNB and could guarantee a wider user base and increased daily transactions for the token. Alongside the announcement for the launch of Binance Japan, Binance is offering spot and leverage crypto trading on 34 cryptocurrencies. This vast list potentially entails more transactions on Binance, leading to more BNB spending as the platform’s utility token. Related Reading: Sell The News? Litecoin Traders Capitulate Ahead Of Today’s Halving But surprisingly, the price increase is not reflected in BNB’s trading volume, down over 47% in a 24-hour period. CoinMarketCap data shows BNB recorded over $1 billion in trading volume toward the close of Monday’s trading session.  The token saw an over 253% surge in trading volume on July 31, which didn’t reflect its nearly 1% price decline during the same period. After the sudden surge in trading activity and price, BNB’s movement has stalled as 24-hour trading volume stands at $734 million, with a 0.6% price increase in the last 24 hours. As of the time of writing, BNB trades at $242.9, inching closer to the $250 level as traders accumulate the token in anticipation of major rallies as it trades live on Binance Japan in the coming days.  BNB Vies For More Rallies As It Prepares To Conquer Key Resistance Levels Binance Coin (BNB) trades above three key support levels: $240.4, $242.0, and $243.3. The bulls found strength at $242.0 and $243.3 price levels, facilitating the sharp spike to $246.065 in the early hours of August 1. The chart demonstrates heated strife between the bulls and the bears as they struggle to prevail over the market. However, the stiff resistance at the $246.5 price level allowed the sellers to trigger a trend reversal. The bears have formed bearish candle sticks above the $243.3 price level and are striving to press the token further below. Related Reading: Weeks of Prosperity: MKR Holders See Wealth Grow By Over 100% Amidst Price Boom BNB is in a critical conjecture as the next few hours determine whether a move to the $250 target is possible. A break above the $246.5 level will facilitate more rallies. Conversely, if the bulls relent, BNB could retrace to the $241.3 level, allowing the bears an opportunity to soar. Featured image from Pixabay and chart from TradingView.com

View Details

Binance Japan to Launch With 34 Listed Cryptocurrencies

Binance, which is preparing to launch its new Japanese platform in August, will offer users the opportunity to trade 34 coins, local crypto media reported. Besides major cryptocurrencies such as bitcoin and ether, Binance’s own token will also be among the listed digital assets. Binance to Restore Crypto Trading in Japan With More Coins Than [...]

The post Binance Japan to Launch With 34 Listed Cryptocurrencies appeared first on Crypto Breaking News.

View Details

Binance To Enter Japan With A Bang, Will List More Tokens Than Any Local Exchange

According to Japanese-based crypto media outlet Coinpost, Binance will launch in Japan fully this month and intends to list 34 tokens on its exchange. This means the platform will offer more tokens than its local competitors in Japan, with major domestic exchanges Bitbank, GMO Coin, and Coincheck listing 30, 36, and 22 tokens, respectively.  The largest crypto exchange by trading volume intends to list its native BNB token, making this the first time it will be available in the country. Some of the other tokens expected to be listed include Axie Infinity (AXS), Solana (SOL), and Avalanche (AVAX). A Remarkable Re-entry News of the re-entry into Japan was announced by the CEO of Binance via a Twitter video. According to him, the platform has been making efforts to re-enter the Japanese market for a while now. He was effusive with his praises and noted that since 2017, Japan had established crypto exchange regulations, including the recent stablecoin regulations enacted in June. He also stated it was “fantastic to see Japan being a leader in the Web3 regulatory environment.” Related Reading: USDT Issuer Tether Reports A 30% Decline In Profit He further added that Binance was glad to once again partake in the Japanese market after its purchase of the Sakura Exchange BitCoin (SEBC) platform in November last year. Following the acquisition, SEBC changed its name to Binance Japan Inc.  The purchase of the exchange was instrumental in paving the way for the re-entrance of Binance in Japan. Binance will initially offer sport trading services. However, the exchange will not render leveraged trading services since this will require a Type 1 Financial Instruments Business license, with more restrictive standards.  Additionally, cryptocurrency users in Japan will also be offered access to Binance Earn, a specially designed program that enables participants to earn interest on their cryptocurrency deposits. The exchange will also render Japanese crypto traders an opportunity to trade on its NFT marketplace. BNB coin price sitting at $245 following exchange announcement | Source: BNBUSD on Tradingview.com Major Regulatory Win for Binance This recent announcement marks a major regulatory win for Binance. In the recent past, the platform has faced various regulatory challenges and was recently made to drop its license application in Germany.  Related Reading: US Presidential Candidate Defends Bitcoin, Calls Out Environmental Critics In France, the exchange also faces regulatory investigations, with French authorities accusing Binance of being involved in offering illegal digital assets services and failing to curtail money laundering.  Therefore, this latest announcement of a re-entry into the Japanese market heralds a major regulatory win for the embattled exchange. Featured image from CoinDesk, chart from Tradingview.com

View Details

Binance Japan Announces Launch Details, Set to Become Top Domestic Exchange with 34 Cryptocurrencies

Binance Japan announced plans to launch in August with 34 cryptocurrencies, surpassing domestic rivals. The offering includes unique features but excludes leverage trading. (Read More)

View Details

Binance Japan Plans to Initially List 34 Tokens Following Market Re-entry

Binance Japan is planning to initially list 34 tokens, the most offerings among its rivals in Japan, after reopening its services in the country this month. The cryptocurrency exchange is also planning to offer its native token, BNB, for the first time in Japan.

In November last year, Binance acquired the Japanese cryptocurrency exchange Sakura Exchange BitCoin, paving the way for the exchange to re-enter Japan. This step was aimed at enabling Binance to operate legally in the country after several warnings by the Japanese regulator that the exchange was operating illegally.

Spot Trading Services

According to the Japanese media publication Coinpost, Binance will initially offer spot trading services. However, the exchange will not offer leveraged trading services, which requires a 'Type 1 Financial Instruments Business' license with more strict standards.

With 34 tokens listed for trading, Binance Japan will rank as the largest cryptocurrency exchange in Japan based on the number of listed tokens. Its rivals, Bitbank, GMO Coin, and Coincheck, offer 30, 26, and 22 tokens, respectively, according to a survey by CoinPost. Some of the tokens expected to be listed on the exchange include Solana (SOL), Avalanche (AVAX), and Axie Infinity (AXS).

Besides that, cryptocurrency users in Japan will access Binance Earn, a program that allows users to earn interest on their crypto deposits. Additionally, the exchange will reportedly offer Japanese crypto users trading services on its non-fungible token (NFT) marketplace.

Regulatory Wins for Binance Japan

The CEO of Binance, Changpeng Zhao, has praised Japan, saying the country is a leader in the regulations of Web 3. In the recent past, the largest crypto exchange by volume has faced several regulator hurdles, recently having been forced to drop its license application in Germany.

"Japan had very clear regulations from 2017 with crypto exchange regulations, and more recently this year with the opening up of crypto listing frameworks as well as the passing of the stablecoin regulations in June," Zhao said.

CZ: Japan is a flagship leader for Web3 regulatory environments.Earlier today, @cz_binance virtually addressed the WebX conference in Japan, recognizing the country's clear approach towards the industry. pic.twitter.com/TeLRUaH5Hy

Finance Magnates reported a week ago that Binance Japan was planning to introduce stablecoins after the country passed a bill that recognizes the digital assets. The new law allows licensed banks, registered money transfer agencies, and trust companies to issue stablecoins.

View Details

Binance Returns to Japan with Competitive Edge Despite Global Troubles

The world's largest crypto exchange is returning to Japan.

Continue reading at DailyCoin.

View Details

Binance Japan To Debut 34 Tokens: BNB Gets Top Billing

Bolstering Japanese reentry, Binance Japan will feature 34 tokens, including Bitcoin [BTC], ETC, DOT, QTUM, ALGO, Ethereum [ETH], Cardano [ADA], etc. Most importantly, BNB, the exchange’s native coin, will now be listed for the first time in the country, according to leading media outlet Coinpost. The announcement of 34 cryptocurrency brands is a strategic maneuver […]

View Details