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Binance seeks Japan re-entry

The world’s biggest crypto exchange, Binance, is reportedly seeking a licence to operate back in Japan. According to a Japan Times report, Binance is trying to reenter the market four years after retreating from the country due to lack of a permit. A spokesperson told the Japanese publication that Binance is committed to working with regulators and policymakers to shape policies that protect consumers; encourage innovation, and move the industry forward. Last month, Japan’s financial regulator proposed relaxing corporate tax rules for crypto assets. Lobbying groups have been calling for changes, saying high corporate taxes are causing some firms to relocate to Singapore and elsewhere.

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