Japan's Financial Services Agency issued a warning Friday to major cryptocurrency exchange Binance for operating without registration in the country.
Hong Kong-based Binance was operating in Japan through the internet without a license for a virtual currency exchange, according to a Google translation of the Japanese-language statement.
At the same day Binance CEO Changpeng Zhao, known in the crypto community as CZ, told Bloomberg that he had been invited to Malta by the government in order to look at an upcoming bill favorable to crypto businesses.
So, there are some questions on this situation. 1) Does it mean that we will be able to change EUR to crypto directly? 2) Which citizens are welcomed? For example, Bittrex prohibited to work those persons whose countries are under US sanctions. What for Malta on this issue? 3) Will this move from Asia to Europe contribute more crypto trading volume in EU countries?
it is undeniable that because of some requirements impose on Japan to ensure that all crypto exchanges in their country are free from fraudulent activities, but it doesn't mean that it is a reason behind why Binance move to another country, it's their prerogative or what we called a right not divulge their book of records to protect their integrity as held of being the most trusted exchange in crypto world.