- Binance will halt its services for Japan residents on November 30, 2023.
- The migration link for Japan users to complete identity verification will be available from August 1 until November 30, 2023.
- Binance Japan is set to launch its local platform during the summer of 2023.
Binance, one of the leading cryptocurrency exchanges, has announced that it will cease its services for Japan residents by November 30, 2023. The decision comes as part of Binance’s ongoing efforts to align with regulatory requirements and ensure compliance in the jurisdictions it operates.
To facilitate a smooth transition, Binance will provide a migration link for Japan resident users to complete their identity verification (KYC) process. This link will be available from August 1 until November 30, 2023. It is crucial for users to complete the KYC procedure within this timeframe to comply with the new regulations.
Additionally, Binance is making progress towards launching its local platform, Binance Japan, during the summer of 2023. The local platform aims to cater specifically to the needs and preferences of Japanese users, offering a seamless and compliant trading experience within the country.
The decision to discontinue services for Japan residents reflects Binance’s commitment to operating within the legal frameworks of the jurisdictions it serves. By adhering to regulatory guidelines, Binance aims to foster trust and promote the growth of the cryptocurrency industry in a responsible and sustainable manner.
Japan has been an important market for Binance, and the transition period provides an opportunity for users to migrate their accounts and ensure compliance with the new regulatory requirements. Binance remains committed to serving its global user base and looks forward to delivering innovative and secure services to its customers worldwide.