In an event in Japan, Binance CEO Richard Teng praised the host country’s clear regulatory framework and rapid cryptocurrency adoption, highlighting that crypto accounts surpassed 11 million last year. Teng emphasized that such open policies encourage safe and sustainable growth in the cryptocurrency field while speaking at the Global Financial Technology Network Forum in Japan.
Japan’s crypto regulatory framework, led by the Financial Services Agency (FSA), maintains transparency and safety via the Payment Services Act (PSA) and the Financial Instruments and Exchange Act (FIEA).
Exchanges are required to register, abide by stringent AML/CFT regulations, and submit to supervision by self-regulatory organizations such as the Japan Virtual Currency Exchange Association (JVCEA). FSA recently warned Bybit, KuCoin, MEXC Global, Bitget, and Bitcastle for unregistered operations.
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