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OKX and Binance Withdraw from Japan Amid Regulatory Pressure

June 27 (Cointime) - OKX, the second largest offshore cryptocurrency trading venue, is reportedly stopping its services to customers in Japan due to local regulatory rules and laws. Chinese crypto blogger Colin Wu believes this move may be due to pressure from the local financial regulator, the FSA.

Binance also recently announced its withdrawal from the Japanese market and other countries, with some speculating it is due to non-compliance with local regulatory rules. Meanwhile, Mitsubishi UFJ Financial Group Inc is negotiating with stablecoin emitters to issue them on its own blockchain platform following the legalization of digital asset issuance by Japanese regulators.

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