Sakura Exchange Bitcoin Co., Ltd. (SEBC) Announces Launch of New Service Binance JAPAN
It is reported that Sakura Exchange Bitcoin Co., Ltd. (SEBC), the Japanese crypto exchange owned by Minoan, announced on the 28th that it plans to launch a new service, Binance JAP
It is reported that Sakura Exchange Bitcoin Co., Ltd. (SEBC), the Japanese crypto exchange owned by Minoan, announced on the 28th that it plans to launch a new service, Binance JAPAN (working title), after June 23. Details including the start time will be announced later. The personal information registered when opening an SEBC account will not be carried forward and requires a new KYC. In addition, SEBC’s current brokerage services for domestic exchanges will end on May 31, 2011.
Binance JAPAN will open after June 23rd
Introduction
On the 28th of May, Sakura Exchange Bitcoin Co., Ltd. (SEBC), a Japanese crypto exchange owned by Minoan, announced its plan to launch a new service called Binance JAPAN after June 23. However, details about the exact start time are yet to be announced. It is also important to note that the personal information registered when opening an SEBC account will not be carried forward and requires a new KYC. Furthermore, SEBC’s current brokerage services for domestic exchanges will end on May 31, 2011.
What is SEBC and Binance JAPAN?
SEBC is a Japanese crypto exchange that enables people to trade cryptocurrencies legally. The exchange is owned by Minoan, a Japanese IT company based in Tokyo. On the other hand, Binance JAPAN is a new service that SEBC plans to launch after June 23. It is not clear what this new service will involve, but given that Binance is one of the world’s largest cryptocurrency exchanges, it is likely to offer a similar range of services.
What Does This Announcement Mean for Users?
Users who are currently using SEBC’s brokerage services for domestic exchanges need to be aware that these services will end on May 31, 2011. They will no longer be able to use SEBC for this purpose. Furthermore, those who have registered personal information when opening an SEBC account will not be carried forward, and they will need to undergo a new KYC. This is a standard practice in the cryptocurrency exchange industry and is designed to protect against fraud and other types of illegal activity.
Impact on the Cryptocurrency Exchange Industry in Japan
The launch of a new service by SEBC is significant for the Japanese cryptocurrency exchange industry. Japan has been at the forefront of regulating cryptocurrencies since 2017. Following the Mt. Gox hack in 2014, which led to the loss of over $460 million worth of bitcoins, the Japanese government has focused on creating an environment that is conducive to the growth of the cryptocurrency exchange industry while also protecting investors. As a result, Japan has become one of the most progressive countries when it comes to the regulation of cryptocurrencies.
Conclusion
Sakura Exchange Bitcoin Co., Ltd. (SEBC) has announced the launch of a new service, Binance JAPAN, after June 23. Details about the new service are yet to be disclosed. However, users need to know that SEBC’s current brokerage services for domestic exchanges will end on May 31, 2011. Users who have registered personal information when opening an SEBC account will not be carried forward and will have to undergo a new KYC. This new service is significant for the Japanese cryptocurrency exchange industry, which has been at the forefront of regulating cryptocurrencies since 2017.
FAQs
Q1. What is SEBC?
A. Sakura Exchange Bitcoin Co., Ltd. (SEBC) is a Japanese crypto exchange that enables people to trade cryptocurrencies legally.
Q2. What is Binance JAPAN?
A. Binance JAPAN is a new service that SEBC plans to launch after June 23. It is not clear what this new service will involve, but given that Binance is one of the world’s largest cryptocurrency exchanges, it is likely to offer a similar range of services.
Q3. What is KYC?
A. KYC stands for “Know Your Customer”. It is a standard practice in the cryptocurrency exchange industry and is designed to protect against fraud and other types of illegal activity.
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