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CZ Clarifies Binance Hasn’t Received Any Mandate From Japan FSA but are in Active Dialogue with them

It takes one bad news for the Crypto market to plummet. Within an hour of news breaking out about “JAPAN PLANS TO ISSUE WARNING AGAINST BINANCE”, that was first tweeted by @BTCVIX, Bitcoin prices started sliding down.

The prices enjoyed a place above 600000 INR today until it fell by 25000 as soon as the news broke out. According to the tweet, Nikkei a Japanese Newspaper has published the report that Japan’s FSA will be going after World’s largest exchange (by 24 hour volume) Binance.

Soon after CZ, the founder of Binance gave a clarification on Twitter:

Twitter was already crying FUD over the Nikkei Report and CZ’s response gave it another boost:

Even the Japanese Voiced their Disappointment:

All of this still did not deter the scammers:

Japan’s Financial Services Agency (FSA) after the January hack of over $500 mln NEM at Coincheck, has started monitoring the exchanges closely. Hence CZ and Binance would definitely be in touch in JFSA but that does not mean they are clamping down on them. There seems to be no reason for Japan to go after Binance as of now, and if there is, we are sure Binance will comply. But for now, do not worry and keep trading happily.



Cover image source

Update – Title updated to be more specific

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