Binance, the world’s biggest cryptocurrency exchange, is seeking a license to operate in Japan, four years after retreating from the country as it didn’t have a permit, according to people familiar with the matter.
The nation’s easing approach to crypto and substantial potential for user growth are the key reasons for Binance’s renewed interest in the world’s third-largest economy, one of the people said.
Prime Minister Fumio Kishida’s agenda for reinvigorating the economy under the rubric of "new capitalism” includes support the growth of so-called Web3 firms. The term "Web3” refers to a vision of a decentralized internet built around blockchains, crypto’s underlying technology.
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