While Japanese Prime Minister Fumio Kishida has spoken in favor of the full adoption of Web3 in Japan, Binance has officially announced that it will enter the Japanese market next August. This decision follows the takeover in November 2022 of Sakura Exchange Bitcoin (SEBC), a locally regulated cryptocurrency platform.
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Binance débarquera au Japon en août – Le gouvernement du pays souhaite promouvoir le Web3
Japan to host Binance in August
Mere coincidence? Today, as Japanese Prime Minister Fumio Kishida said Japan wants to fully embrace Web3, Binance has formalized its arrival in the Land of the Rising Sun for next August.
As we reported in our columns last April, Binance had planned to launch in Japan “after June” following the takeover of Sakura Exchange Bitcoin (SEBC), a locally regulated cryptocurrency exchange, in November 2022.
Following the law on stablecoins introduced in Japan last June, Binance intends to take advantage of this regulatory framework to issue its own stablecoins across the country. Indeed, thanks to this relatively new law, stablecoins enjoy digital currency status in Japan and as such may only be issued by licensed banks, regulated money transfer agents or trust companies.
During an appearance at WebX, a conference taking place in Tokyo on July 25-26, Binance CEO Changpeng Zhao was very optimistic about Japan’s openness to these new technologiescalling the country “ leader in the Web3 regulatory environment » :
“Japan has been clear since 2017 with cryptocurrency exchange regulations and more recently this year with its cryptocurrency listing frameworks and passing stablecoin regulations. »
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Japan opens up to Web3
Also present during WebX, Japan’s prime minister has shown his readiness to welcome Web3 with open arms. In the presence of startups, companies, investors and government officials, Fumio Kishida said that Japan is working closely with the private sector to promote this new Internet:
“I hope the Web3 industry will regain its focus and vitality, and new projects will emerge. »
In addition, as part of the “Start Next Innovator” program, Japan has sent over a thousand entrepreneurs and students to Silicon Valley over the past 5 years, a science park whose influence is well established. In the same vein, the Japanese government plans to send some of its talents to France, Singapore and other countries.
Here live at @WebX_Asia and @JPN_PMO Fumio Kishida just stated that Web3 is “the new form of capitalism”.
While the West continues to antagonize blockchain companies, Asia is welcoming us in with their arms wide open.
In Asia, the future is bright for crypto! pic.twitter.com/eZ9puYdzoR
— Yves La Rose (@BigBeardSamurai) July 25, 2023
The Japanese Prime Minister has described Web3 as a ” new form of capitalism » while extolling the potential of this new Internet to stimulate the country’s growth by ” social problem solving “.
Japan is one of those countries which, unlike the United States, is trying to develop a favorable ground for the adoption of Web3 and cryptocurrencies on its territory.
👉 Related – Binance to seek dismissal of CFTC lawsuit against it
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Source: Cointelegraph
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Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
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