• Binance announces its re-entry into the Japanese market through new subsidiary.
• BNB turns bullish but prevailing demand fails to push it out of July range.
• Binance Japan will reportedly list 34 cryptocurrencies that will be available to Japanese users including Bitcoin, Ethereum, Dogecoin and BNB.
Binance Re-Enters Japan Market
Binance has announced its re-entry into the Japanese market through a new subsidiary. The exchange secured its place in the Japanese market by acquiring a local exchange called SAKURA Exchange Bitcoin, Inc (SEBC). With this acquisition, Binance is now able to access liquidity in the East and offer customers access to more tradable tokens than any other exchange in the country with spot and earn products available.
BNB Price Analysis
With the news of Binance’s entrance into Japan’s market, BNB turned bullish however prevailing demand failed to push it out of July’s range. This could potentially change as there is an influx of liquidity from Japan which can have a significant impact on prices depending on how much liquidity is actually acquired.
Binance Japan will reportedly list 34 cryptocurrencies that are available to Japanese users such as Bitcoin [BTC], Ethereum [ETH], Dogecoin [DOGE] and BNB. These digital assets are accessible through the spot market where customers can buy and sell them at their own risk.
Regulatory Environment Improving
The regulatory environment has been gradually improving since then with some countries such as Japan implementing strict regulatory hurdles and imposed bans against certain exchanges like Binance. However, with these recent developments, it looks like more countries might begin embracing cryptocurrency allowing for greater adoption around the world.
In conclusion, it is clear that regulations surrounding cryptocurrency are slowly improving around the world with governments beginning to embrace cryptocurrencies like never before due to their economic potentiality for growth and development in many industries worldwide.