Japanese regulator asks Binance to suspend service to Japanese clients

According to tweet @BTCVIC (BTC Trader Telegram Group), which refers to a screenshot of the Japanese financial newspaper Nikkei, the Japanese regulator intends to issue a warning about cryptocurrency exchanges Binance.

“JAPAN PLANS TO ISSUE WARNING AGAINST BINANCE, NIKKEI SAYS” pic.twitter.com/yKXvX8Ff9C— BTCVIX (@BTCVIX) March 22, 2018

Binance – cryptocurrency exchange is the number one volume of daily trades, experienced an attempted burglary on 7 March, although staff exchanges successfully managed to reflect, so that means users are not affected.

Known of the crypto trader @WhalePanda did retweet the original tweet and asked the Committee what will be the price of bitcoin at this event:

Pretty interesting how #Bitcoin will react to this, despite the fact that Binance fraudulent exchange without Fiat currency.

Quite interesting how #Bitcoin reacts to this, even though Binance is just a shitcoin exchange with no fiat on-ramp https://t.co/jKnm58sl0R— WhalePanda (@WhalePanda) March 22, 2018

Several Twitter users immediately accused @ WhalePanda in spreading unconfirmed FUD news, but there were also those who confirmed the legitimacy of this message:

Not fud. I spoke to people in the know and they’ve asked binance to take down the Japanese translation to discourage Japanese to use their platform— Henno van Rensburg (@hennokun) March 22, 2018

Recall that the Japanese financial services Agency (FSA), after the January burglary of the Japanese cryptocurrency exchange Coincheck with usilenny attention to cryptocurrency exchanges. According to the results of the inspections the FSA has issued 7 warnings Japanese cryptocurrency exchange, and 2 of them ordered to suspend its activities.

Just a couple of hours, chief Executive officer Binance commented in his Twitter:

The Nikkei has acted irresponsibly. We are engaged in a constructive dialogue with the FSA and has not received any notifications from them. For FSA does not make sense to share any information with the publication without prior notification to us, as we are in a good working relationship with the Japanese Agency.

The Nikkei showed irresponsible journalism. We are in constructive dialogs with Japan FSA, and have not received any mandates. It does not make sense for JFSA to tell a newspaper before telling us, while we have an active dialog going on with them.— CZ (not giving away crypto) (@cz_binance) March 22, 2018