On Friday, March 23, the financial services Agency of Japan (FSA) has officially announced to issue a warning to the cryptocurrency exchange Binance about the need to obtain licenses to continue operations in the country.

We will remind, the day before the relevant information published by the news Agency the Nikkei, however, the Executive Director of the Binance Chanpen jao called a note of the irresponsible and said that his company, by contrast, maintains a constructive dialogue with the FSA:

The Nikkei showed irresponsible journalism. We are in constructive dialogs with Japan FSA, and have not received any mandates. It does not make sense for JFSA to tell a newspaper before telling us, while we have an active dialog going on with them.

— CZ (not giving away crypto) (@cz_binance) 22 Mar 2018

“The Nikkei has demonstrated an irresponsible journalist. We are engaged in a constructive dialogue with the FSA and has not received from him any instructions. For the Japanese regulator made no sense to inform the first edition, and then us at the time, as we are with him in active negotiations”, — said Joao.

However, in an official statement the FSA does not specify whether the controller to show the site of criminal charges, as reported in the note Nikkei.

In turn, Chanpen jao confirmed the receipt of warnings, but urged the community “not to worry”:

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.

— CZ (not giving away crypto) (@cz_binance) March 23, 2018

“Don’t worry. Some negative news often turn out to be positive in the long term. The Chinese have a proverb for this case. New (often better) opportunities always appear in times of change”, said Joao.

As you know, Binance is one of the world’s largest cryptocurrency exchanges, while Japan also is a leader in the development of bitcoin industry. It is not surprising that immediately after the news spread price of the first cryptocurrency sharply yesterday went down:

We will remind, after hacking Coincheck in Japan were considerably tightened up the requirements for working in the country of the cryptocurrency exchanges. Recently, the FSA has suspended the local marketplaces and Bit FSHO Station, providing them 30 days to improve security systems.