Four years after pulling out of Japan, Binance, the world’s largest crypto exchange, will seek a license to operate in the country.
People familiar with the matter told Bloomberg that the country’s friendlier approach to crypto and the substantial opportunities to onboard new users attracted the exchange back to Japan.
The move comes as Japan looks to adopt more Web3-friendly policies under its new prime minister, Fumio Kishida.
His hunt for a “New Capitalism” solution to Japan’s sluggish growth and growing inequality has led the country’s politicians to start working on wide-ranging policies, from reforming crypto and NFT taxation to attracting crypto talent.
In a May speech in London’s financial district, Kishida further said Japan “will develop an environment for the promotion of Web3, such as blockchain, NFTs and the metaverse.”
A spokesperson told Bloomberg that Binance is “committed to working with regulators and policymakers to shape policies that protect consumers, encourage...
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