Cryptocurrency exchange Binance received an official warning from the Financial Services Agency (FSA) for not registering with the regulatory agency for its operations in Japan.
Written to Binance CEO Changpeng Zhao on March 23 In a letter, the FSA warned the exchange operator to cease its unlicensed activities in Japan.
Zhao confirmed that the exchange received its letter from the FSA. He said his lawyers are in contact with the FSA and will find a solution.
Meanwhile, Binance also announced that it will open an office in Malta. Binance headquarters are currently in Hong Kong and are also in conflict with securities regulators. Binance plans to open the world’s first cash-to-crypto transaction in Malta, increasing its status. Currently, the largest crypto money platform with a 24-hour trading volume of $ 1.6 billion, according to the data of the cryptocurrency exchange CoinMarketCap.
The Malta adventure of the crypto exchange Binance begins
Zhao Bloomberg’ “I can say that we can announce a banking deal soon,” he told e. Meanwhile, Malta is a very visionary place when it comes to crypto and fintech.”
Zhao also said that he has been invited by Malta’s government to review a bill that aims to create a conducive environment for crypto companies, which is part of the country’s latest steps to attract fintech startups.
Malta’s prime minister Joseph Muscat tweeted yesterday:
“Welcome to #Malta @binance. We aim to be the global pioneer in regulating blockchain-based workplaces.“