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Japan warns Hong Kong-based crypto exchange

Criminal charges to be filed if Binance fails to halt Japan operations

Japan's financial watchdog turns up the heat on unregistered cryptocurrency exchanges.   © Reuters

TOKYO -- Japan's Financial Services Agency announced on Friday that it has warned a Hong Kong-based company believed to be the world's biggest cryptocurrency exchange operator.

The company, Binance, has been operating in Japan without a license. The financial watchdog has concluded that investors using the company's services are in danger of suffering financial losses from something unrelated to market moves such as thefts and fraud, sources close to the agency said.

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