Posted on 03/23/2018 6:27:29 PM PDT by goldendelicious
Cryptocurrency exchange Binance has received a formal warning from Japan’s Financial Services Agency (FSA) for operating in the country without registering with the regulatory agency as a cryptocurrency trading platform.
In a letter dated March 23 and addressed to Binance CEO Changpeng Zhao, the FSA warned the exchange operator to cease operating in Japan without a license.
The company had said it intends to seek FSA licensure, but it had already moved staff into Tokyo and had allowed Japanese residents to trade on the exchange, which currently only offers cryptocurrency-to-cryptocurrency trading pairs.
Nikkei had reported Thursday that the FSA would issue a formal warning to Binance, a report that Zhao lambasted as “irresponsible journalism” on Twitter.
Zhao confirmed that the exchange had received the FSA’s letter and said that its lawyers are in contact with the FSA and “will find a solution.”
(Excerpt) Read more at ccn.com ...
Muscat was open about his bullish stance on the company.
“Welcome to Malta, Binance. We aim to be the global trailblazers in the regulation of blockchain-based businesses and the jurisdiction of quality and choice for world class fintech companies,”- Joseph Muscat, President of Malta
And they probably will...
What!?
As the regulators have been chasing out the crypto-traders, from China, Hong Kong, Korea and now Japan- I’m glad they’re finally getting a home with a welcome in the EU.
I heard that Malta is going to allow them to operate with fiat money, too. I haven’t traded with them, but they got one hell of a phone app that I love to use.
I remember when streaming first came out— Video, music what have you. The record companies had a hissy fit. They wanted to keep pushing their DVD’s and CD’s that no one uses. They fought until the technology just flew past them. Now they scramble to keep up. Crypto is the same thing. The banks are scrambling to block its birth, but soon those little metrosexual gen X’rs are going to be swiping their phones at Starbucks to get a latte with crypto. Good on Malta for looking forward. Being an island, and they don’t share a border with Mexico, they can worry about such things.
From the title I couldn’t figure out why that big bootied black singer chick had to move her office from Japan to Malta.
That painters union was against roller brushes once upon a time, too!
I remember when Amazon had their ipo- they had a gabillion dollars and had one building, and they were sitting on cardboard boxes because they had no office furniture and the press mocked them day and night.
Should be fun when trillions start flowing into the market. I think I will cancel my social security at that point!
I’m pretty excited too. I’m never happier than when I’m gambling.
Yes, it is fun if you are playing with money you can afford to lose. A lot of people found out just the opposite the hard way. Entering late and not knowing anything about any market in their life and actually expecting to get rich overnight. Should be against the law to be that stupid!
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