Binance CEO Changpeng Zhao (CZ) participated virtually in Tokyo's Web3 conference "WebX" today, where he praised Japanese culture and the country's crypto market regulations before announcing the launch of Binance Japan.
Binance's Strategic Entry into Japan
After acquiring 100% of Japanese crypto asset trading platform Sakura Exchange BitCoin (SEBC) in November 2022, Binance officially entered Japan's regulated market under the oversight of the Japan Financial Services Agency (JFSA).
Nearly eight months later, CZ revealed plans to begin migrating users to Binance Japan starting August 2023, marking significant progress in the exchange's compliance efforts within Japan.
"Surprise! CZ's unexpected video message during Binance's session"
— @illshin (Twitter)
CZ's Admiration for Japan's Web3 Leadership
During his WebX address, CZ demonstrated his Japanese language skills and shared:
- His early career experiences living in Japan as a developer
- Appreciation for Japanese cuisine, environment, and culture
- Japan's pioneering role in Web3 regulation since 2017
- The country's exemplary framework for crypto exchanges and stablecoin oversight
Key Development: While excited about re-entering Japan through the SEBC acquisition, CZ clarified that full services won't be immediately available in August.
Binance Japan Migration Timeline
Verified Binance users in Japan can begin platform migration with this schedule:
| Date | Milestone |
|---|---|
| August 1, 2023 | Migration opens for KYC-verified Japanese residents |
| November 30, 2023 | All trading suspended for Japanese users on Binance International |
| December 1, 2023 | Official Binance Japan launch |
👉 Discover how Japan leads in crypto regulation
FAQ: Understanding Binance Japan's Transition
Q: Can Japanese users continue trading on Binance International?
A: No—all trading functionality will disable for Japanese residents after November 30, 2023.
Q: What happens to unverified users' assets?
A: After December 1, non-migrated users can only withdraw funds.
Q: Why did Binance acquire a Japanese exchange?
A: The SEBC purchase provides necessary regulatory compliance under JFSA oversight.
👉 Learn about Japan's progressive crypto policies
Why Japan Matters in Web3
Japan has emerged as a global Web3 leader through:
- Early regulatory clarity for crypto assets
- Progressive stablecoin legislation
- Government support for blockchain innovation
- High adoption rates among institutional investors
Notable Context: Japanese Prime Minister Fumio Kishida has publicly endorsed Web3's potential to disrupt traditional internet infrastructure.
This strategic expansion demonstrates Binance's commitment to compliant market entry while catering to Japan's sophisticated crypto ecosystem. The phased approach ensures smooth user transition while meeting strict regulatory requirements.