Seriously, how difficult is it for Binance to obtain the proper registrations and licenses to still operate in Japan? Japan is a crazy large market that will keep bursting out of its jacket. It just points out that they aren't interested in obtaining them, or they couldn't and won't be able to pass the requirements. They have never been hacked in the way other exchanges are hacked, and money is totally not a problem, so what is the problem?
For certain the second one.
What was more troublesome was the way it unfolded.
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.
2:33 PM - Mar 22, 2018
The second day:
We received a simple letter from JFSA about an hour ago. Our lawyers called JFSA immediately, and will find a solution. Protecting user interests is our top priority.
That evening they were on their way to Malta, which has some very lax laws and is probably one of the last remaining tax heavens in the EU.
Something deep down there at Binance is probably wrong, they might be laundering money, cooking the books or manipulating the trades but it's pretty clear they want to make sure nobody is bothering them.
