In a rather delightful turn of events, Binance‘s illustrious CEO, Richard Teng, has taken it upon himself to extol the virtues of Japan’s regulatory framework. Yes, you heard that right! Apparently, the land of the rising sun has managed to surpass a staggering 11 million crypto accounts last year. Who knew?
Speaking at the Global Financial Technology Network Forum—because where else would one discuss such riveting topics?—Teng waxed lyrical about how these open policies are the golden ticket to safe and sustainable growth in the cryptocurrency realm. One can only imagine the applause that followed, or perhaps just a few polite nods.
Now, let’s not forget the Financial Services Agency (FSA), the unsung hero of Japan’s crypto saga. With the Payment Services Act (PSA) and the Financial Instruments and Exchange Act (FIEA) in their arsenal, they ensure that transparency and safety are not just buzzwords but actual practices. Bravo!
Of course, exchanges must register and adhere to the oh-so-stringent AML/CFT regulations. And let’s not overlook the self-regulatory organizations like the Japan Virtual Currency Exchange Association (JVCEA) keeping a watchful eye. Recently, the FSA even had a stern word with Bybit, KuCoin, MEXC Global, Bitget, and Bitcastle for their unregistered antics. Oh, the drama!
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2025-03-03 17:24