Cryptocurrency exchange operator Binance said on Wednesday it acquired Sakura Exchange BitCoin (SEBC), a crypto exchange service registered in Japan, to expand into the Asian country.
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The terms of the transaction were not disclosed by Binance.
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Through the acquisition, Binance will be able to operate in the Japanese market as an entity regulated by the Japan Financial Services Agency (JFSA).
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Takeshi Chino, general manager of Binance Japan, said, “We will actively work with regulators to develop our combined exchange in a compliant way for local users.”
