A number of negative incidents have occurred in succession within the cryptocurrency market of Japan.
The first is that the cryptocurrency exchange Binance has ceased its developments in Japan. They withdrew from the Japanese market after a warning from the Financial Services Agency that made it sound like they were committing a crime.
They had already achieved remarkable results in the industry. It is true that by skirting certain regulations and taxes, they weren’t competing on a level playing field with other businesses. However, they were a genuine fin-tech company that was an industry leader in innovation. It is regrettable that their expansion into Japan has come to an end.