Binance Confirms FSA Letter; “No Need To Worry,” Says CEO, As WanCoin (WAN) Gets Listed

Zen businessman doing yoga meditation on the desk

Changpeng Zhao, the chief executive of Binance, confirmed on Friday morning (JST) that the cryptocurrency exchange had just received a letter sent from Japan’s premier financial regulator, the Financial Services Agency (FSA), but that there was “no need to worry.”

Tweeting at 10:40am on Friday, Zhao revealed:

We received a simple letter from JFSA about an hour ago. Our lawyers called JFSA immediately, and will find a solution. Protecting user interests is our top priority.”

Upon reading over it, the Binance CEO – often praised for his transparency – promptly updated the community:

No need to worry. Some negative news often turn out to be positive in the long term. Chinese have a proverb for this. New (often better) opportunities always emerge during times of change.”

In replying to queries from the public, Zhao added that the contents of the letter were “the same thing” as what was published on the agency’s very website. It appears that the Binance figurehead was referring to this; a very simple letter indeed.

For those based in Japan and concerned that their funds were in jeopardy, Zhao personally assured them that there was no need for worry, and that their funds were safe.

Of course, it was only yesterday that angst permeated throughout the crypto-community when Nikkei Asian Review published an article (incorrectly) claiming that the FSA was currently investigating Binance’s activity in Japan. Further, the news outlet (correctly) reported that the agency was in the process of issuing the world-leading crypto exchange with a warning, given that they were yet to have registered with the FSA.

Having not been contacted by the lead regulator about these allegations, Zhao downplayed the article’s authenticity, accusing the Nikkei Asian Review of “irresponsible journalism”, but not before the value of the crypto market, including Binance’s native token (BNB), had suffered from widespread selling.

In yet another example of Binance, led by Zhao, flourishing in the face of adversity and FUD, the trading platform spent the rest of Friday launching their Vietnamese Online Portal, as well as announcing the imminent listing of the highly-anticipated WanCoin (WAN).

Binance will list the native token to Wanchain (a smart contract blockchain platform with privacy protection and cross-chain capabilities) on Friday (6:00am UTC). WAN will be traded against Bitcoin (BTC), Ethereum (ETH), and BNB.

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