Binance Launches Japanese Yen Spot Trading Pairs for BNB, BTC, ETH Globally
Cryptocurrency exchange Binance announced the addition on Thursday. 
BNB
+4.80%
BTC -0.95%
ETH -0.93%
According to the exchange, upon launch, it will launch a commission-free promotion for the new yen-cryptocurrency pair for one month. presentation.
Binance has recently been expanding its relationship with Japan. local trade sector Re-enters the market in August, 2021 and beyond. Binance’s global platform was suspended for Japanese residents in December last year. Website.
Binance has been expanding its presence in Japan, including: tandem We are researching fiat-backed stablecoins with Mitsubishi UFJ Trust Bank (MUTB) and aim to launch yen and other fiat-backed tokens by the end of 2024. Binance Japan announced this. We aim to list 100 tokens.. With three additional trading pairs, the exchange offers 50 tokens on the platform.
Japan has been revising local regulations for the local cryptocurrency industry. In December, the Japanese Cabinet approved the following: Tax system revision This exempts businesses from paying taxes on unrealized cryptocurrency profits. Last month, the cabinet I approved the proposal This allows venture capital firms to invest directly in cryptocurrency startups.
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About the author
Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.
