LBank Faces Scrutiny in Japan for Unlicensed Operations
- The FSA of Japan warns LBank Exchange, citing regulatory concerns.
- The agency states that the exchange offered services without registering with the authority.
- LBank listed Aethir (ETH) on June 12, providing users an opportunity to trade the ATH/USDT trading pairs on the platform.
Japanese regulators have issued a warning to cryptocurrency exchange LBank for operating without proper registration, underscoring ongoing concerns about compliance in the rapidly evolving digital asset industry.
The FSA reportedly asserted that LBank Exchange has an “unknown address” and an “unknown representative.” The agency also added that the platform was conducting its business activities online with Japanese residents as counterparties.
Founded in 2015, LBank operates as a leading global centralized exchange (CEX). The exchange offers customers a wide range of trading options with cryptocurrencies such as Bitcoin, Ethereum, and more.
Crypto reporter Colin Wu shared insights via an X post (formerly Twitter). In his post, Wu stated that the agency warned the exchange for its non-compliance with the authority.
The post LBank Faces Scrutiny in Japan for Unlicensed Operations appeared first on Coin Edition.
