The world’s largest crypto exchange is reportedly enthused by the relaxing crypto regulatory environment in Japan.
Binance is preparing for a formal entry to the Japanese market by seeking a permit to operate in the country.
The renewed interest from the world’s largest crypto trading platform in Japan follows the relaxing crypto laws in the world’s third largest economy under Prime Minister Fumio Kishida., Binance’s interest in re-entering the Japanese market is guided by the country’s new economic policy that promises a fair share to the digital assets industry.
“Japanese Prime Minister Fumio Kishida’s agenda for reinvigorating the economy under the rubric of “New Capitalism” includes supporting the growth of so-called Web3 firms. The term “Web3” refers to a vision of a decentralized internet built around blockchains, crypto’s underlying technology,” Bloomberg said.
Admitting that the company was in talks with the Japanese regulators, a Binance spokesperson refused to divulge details saying it would be inappropriate to comment on an ongoing dialogue. “[Binance is] committed to working with regulators and policymakers to shape policies that protect consumers, encourage innovation, and move our industry forward,” the spokesperson added.
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