Binance Grabs Japanese Crypto Exchange Sakura in Big Takeover Deal – Bitcoin (BTC/USD)

binance, purchased on Wednesday Sakura Exchange BitCoin (SEBC), a regulated Japanese crypto exchange, for an undisclosed amount.

What happened: According to a blog post, Binance announced that it is now entering the Japanese market as a company regulated by the Japan Financial Services Agency (JFSA).

The acquisition of SEBC marks Binance’s first license in East Asia. Binance has already secured regulatory approvals or approvals France, Italy, Spain, Bahrain, Abu Dhabi, Dubai, New Zealand, Kazakhstan, Poland and Lithuaniain addition to Japan.

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Takeshi Chino, general manager of Binance Japan, said the country will play a crucial role in cryptocurrency adoption in the future. “We will work with regulators to make our exchange compliant for local users. We look forward to helping Japan lead the crypto space.”

price action: At the time of writing Apex Crypto Bitcoin BTC/USD was trading at $16,873, according to Benzinga Pro, up 2.34% over the past 24 hours.
Continue reading: Dogecoin outperforms Bitcoin, Ethereum gains: Analyst sees Apex Crypto at $18,000 if it hits that level

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