Night Crows pre-registration NFT collection sells out

Binance Introduces Dedicated Trading Platform in JapanGlobal cryptocurrency exchange Binance made an announcement on Friday regarding its plans to establish a new trading platform exclusively for residents of Japan.The move is in compliance with Japanese laws and regulations, and a demonstration of the company coming into line with Japan’s legal and regulatory framework relative to crypto assets and crypto asset trading. While specific details such as the platform’s launch date are yet to be disclosed, Binance has assured its Japanese customers that this information will be provided in the near future.Photo by Bagus Pangestu on PexelsPlatform transitionIn terms of scheduling, we do know that a new know your customer (KYC) verification process will be available after August 1, to migrate to the new local platform for existing Japanese users on the global platform. As part of the transition process, Binance will be sending out information to Japanese residents who currently utilize their global trading platform. This communication will include instructions on procedures including further information on identity verification.To facilitate a smooth transition, Binance’s global trading platform will cease providing services to Japanese residents on November 30, 2023. Additionally, there are plans to change the company name from Sakura Exchange Bitcoin to “Binance Japan Co., Ltd.”This development marks Binance’s initial foray into the Japanese market firmly under its own brand. In November 2022, the company entered the country by acquiring Sakura Exchange Bitcoin (SEBC). The forthcoming trading platform, dedicated exclusively to domestic residents, represents the first step in Binance’s strategic approach to the Japanese market.The new services on the platform are set to launch during the summer, with future expansion plans to broaden that offering further. Binance also intends to introduce initiatives in Japan that leverage its ecosystem, including the provision of free educational resources through “Binance Academy” to promote Web3 education.Service offeringThe newly created entity will offer crypto spot trading with fiat deposit and withdrawal facility to its Japanese customers. Crypto lending products will be provided through a digital asset earn program. For those who like to dollar cost average (DCA), an automated recurring purchase feature will be provided.In 2021, Binance introduced an NFT marketplace and that will be a service that it will also extend to its Japanese customers. Upon launch of the dedicated service, crypto derivative trading will not be offered although it is understood that it may be offered at a later stage. Derivatives are likely to be under much closer scrutiny by the Japanese regulator than Binance’s other products.It is worth noting that Binance had previously received a warning from the Financial Services Agency (FSA) for offering cryptocurrency trading services to Japanese residents without proper registration. With its full-fledged entry into the Japanese market, it remains to be seen what impact this move will have. Will it accelerate the regulatory landscape and the adoption of Web3 technology in Japan from a global perspective?Additionally, how smoothly will Binance be able to acquire new accounts while competing with domestic business operators? These developments warrant close attention as they unfold.

Foblgate adds Bithumb Burrito Wallet as newest registrable external walletSouth Korean cryptocurrency exchange Foblgate announced on Tuesday (local time) that it now allows users to register Bithumb Burrito Wallet — a Web3 digital wallet operated by Bithumb subsidiary Rotonda — as one of the external wallets that can be used for managing and trading crypto assets on their Foblgate account.Photo by Shubham’s Web3 on UnsplashRegulatory requirementsIn accordance with the Travel Rule under the Act on Reporting and Using Specified Financial Transaction Information, any given user who wants to transfer cryptocurrencies worth more than KRW 1 million (approximately $775) via a personal wallet must register that wallet beforehand. The Travel Rule refers to the Financial Action Task Force’s (FATF) Recommendation #16, which outlines that VASPs must share certain personal information about customers — including names and account numbers — when facilitating crypto transactions that exceed a certain amount. This is aimed at preventing money laundering and other illicit activities.Broadening external wallet supportFoblgate currently supports a number of other external wallets including MetaMask, Blockchain.com, MyEtherWallet and Klip. With the addition of Burrito Wallet, users now have a wider range of options for storing and trading their assets.“We will continue to support external wallets to enhance user convenience,” said Foblgate CEO Ahn Hyun-joon. “We vow to continue our efforts to meet the various needs of our users and provide a safe and convenient environment for carrying out transactions.”The exchange has published a guide for how to register and authenticate external wallets — including Burrito Wallet — on its official website.

Hyosung TNS and APoT Join Hands to Promote NFT Portal ServiceSouth Korean IT infrastructure and financial solutions provider Hyosung TNS announced that it is teaming up with APoT Platforms, a company specializing in developing blockchains for real-world assets (RWAs), to promote NFTtown — Hyosung TNS’ portal service dedicated to providing information, news, and educational content on NFTs.Photo by Andrey Metelev on UnsplashBringing real-world assets to blockchainAPoT Platforms is equipped with technology that is able to embed data on RWAs, such as artwork and luxury goods, thereby connecting them to the blockchain. The company also maintains an extensive network of collaborative relationships with various NFT artist organizations and communities both domestically and abroad.Hyosung TNS plans to bring APoT’s artist network to NFTtown, allowing users to easily access information regarding NFT artists and their works.The two companies will also work together on other efforts, including introducing NFT artworks, digital product transfers, and events for NFT holders.NFT art exhibitionAs the first step of their collaboration, they plan to exhibit and sell works by renowned NFT artists such as Han Kwang-suk, Quiet Eye, and HAN (Han Sun-ok) this month at the Lotte Department Store Ilsan’s Spazio We;R Gallery.