Binance CEO Richard Teng praised Japan’s clear regulatory framework and rapid cryptocurrency adoption, highlighting that crypto accounts surpassed 11 million last year.

 Teng emphasized that such open policies encourage safe and sustainable growth in the cryptocurrency field while speaking at the Global Financial Technology Network Forum in Japan

 Through the Payment Services Act (PSA) and the Financial Instruments and Exchange Act (FIEA), Japan’s crypto regulatory framework is led by the Financial Services Agency (FSA). Exchanges are required to register, abide by stringent AML/CFT regulations, and submit to supervision by self-regulatory organizations such as the Japan Virtual Currency Exchange Association (JVCEA).  FSA recently warned Bybit, KuCoin, MEXC Global, Bitget, and Bitcastle for unregistered operations.