Nikkei Report: Japan To Issue Warning Against Crypto Exchange Binance, Twitter Cries FUD

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According to Nikkei, Japan will issue a warning against crypto exchange Binance, in the wake of a series of inspections of Japanese exchanges.

According to a tweet today by @BTCVIC (BTC Trader Telegram Group) that links to a screenshot from Japanese financial newspaper Nikkei’s terminal, Japan is set to issue a warning against crypto exchange Binance, according to a report from the news outlet Nikkei, March 22.

Binance, the number one exchange by 24 hour volume according to CoinMarketCap, was affected by a hack on March 7, impacting users that had issued API keys on their accounts.

Twitter crypto person @WhalePanda shared @BTCVIC’s tweet, wondering how Bitcoin’s (BTC) price will react to the alleged warning:

“Quite interesting how #Bitcoin reacts to this, even though Binance is just a s***coin exchange with no fiat on-ram”

Several Twitter commentators on @WhalePanda’s post saw the sharing of the future purported warning as just spreading FUD in the crypto sphere, while others seemed to confirm the legitimacy of the upcoming warning through personal private channels:

Let the FUD commence! pic.twitter.com/ZHZkJIIObk

— Albit Coinstein (@AlbitCoinstein) March 22, 2018

Not fud. I spoke to people in the know and they’ve asked binance to take down the Japanese translation to discourage Japanese to use their platform

— Henno van Rensburg (@hennokun) March 22, 2018

Japan’s Financial Services Agency (FSA) had begun inspecting crypto exchanges in the wake of the January hack of over $500 mln NEM stored on a low security hot wallet at exchange Coincheck. The FSA has issued seven “punishment notices” to as-of-yet unregistered Japanese exchanges, as well as temporarily halting operations at two more, for a lack of “the proper and required internal control systems.”

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Author: Molly Jane Zuckerman

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