Last Updated on May 27, 2023 by COINBUZZFEED
Binance, the world’s leading blockchain infrastructure provider, has announced the creation of a new platform specifically tailored to serve the needs of residents in Japan. The decision to establish Binance Japan is driven by the company’s commitment to fully comply with local regulations.
The eagerly awaited platform is set to be launched this summer, with an official launch date and detailed information to be revealed in the coming months.
For users currently utilizing Binance’s global platform in Japan, it’s important to take note of the upcoming changes. As of November 30, 2023, Binance will discontinue its services for residents in Japan on the global platform. However, Japanese users will have the opportunity to migrate to the new local platform by undergoing a new identity verification process known as KYC (Know Your Customer). This KYC process will be available from August 1, 2023, onwards.
To facilitate a smooth transition, Binance has provided a schedule outlining the gradual restrictions of the global platform and the migration process to the new local platform. Let’s delve into the specifics:
