Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is facing the possibility of being shut down. The reason for this is because the Japanese Financial Services Agency (FSA) has officially issued a warning to Binance, stating that the exchange is operating without proper registration.
This warning comes after months of unregistered crypto activity in Japan, which the FSA has been cracking down on. Binance has been operating in Japan without a license since early 2018, and the FSA has made it clear that they are not happy about it.
NOTE: This is a warning note regarding the question of whether or not Binance will be shut down. Please note that this is only speculation and there is no factual evidence to suggest that Binance will be shut down. As such, any decisions made in regard to this question should be done with due diligence and caution.
The FSA has given Binance two weeks to submit an application for registration, or else face the possibility of being shut down. This is a major problem for Binance, as they have already been facing issues with regulatory compliance in other countries.
If Binance is shut down in Japan, it could have a ripple effect across the globe, as other countries may follow suit. This could ultimately lead to the demise of Binance, one of the most popular cryptocurrency exchanges in the world.
4 Related Question Answers Found
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is no longer accessible to users in China. The website of the exchange now displays a message informing users that “Binance is currently not available in your country.”
The ban appears to be part of a wider crackdown on cryptocurrency trading by the Chinese government. Earlier this week, reports emerged that Chinese authorities were planning to block domestic access to overseas cryptocurrency exchanges and ICO websites.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has announced that it will be suspending all withdrawals for an “upgrade” lasting one week. The move comes as a surprise to many, as Binance has been one of the most reliable exchanges in terms of uptime and customer service. The announcement was made on Twitter, with the exchange tweeting that “Binance will be suspending withdrawals at 2018/02/08 4AM (UTC) for one week due to system upgrade.” The tweet goes on to say that “All other functions will remain normal,” and that “Deposits and trading will not be affected.”
While it is not entirely clear what the system upgrade entails, it is likely that it has something to do with the recent addition of new coins and tokens to the exchange.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has announced that it is suspending withdrawals “indefinitely” as it works to upgrade its systems. The move comes just days after Binance announced that it had lost around 7,000 BTC (worth approximately $40 million at the time) to hackers. The exchange says that it will use its “Secure Asset Fund for Users” (SAFU) to cover the loss, which amounts to around 2% of its total BTC holdings.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is down again. The exchange confirmed the outage in a tweet on Thursday, saying it was “experiencing a server issue.”
At press time, the exchange’s website is inaccessible and its mobile app is down. Binance’s status page shows all systems as “operational.”
This is the second time this year that Binance has suffered an outage.
