English follows Japanese*
*English version is a referential translation of the original Japanese version of the Pre-Contract Document. In the case of discrepancy between the English version and the original Japanese version of the Pre-Contract Document, the original Japanese version shall prevail.
Last updated: November 15th, 2024
This document has been prepared for prior delivery to customers who intend to enter into a contract concerning transactions involving cryptoassets (“Transactions”) with Binance Japan Inc. (the “Company”) in accordance with Articles 21 and 22 of the Cabinet Office Order on Cryptoasset Exchange Service Providers and the terms of the self-regulatory regulations prescribed by the Japan Virtual and Crypto assets Exchange Association.
When conducting a Transaction, please carefully read the Terms of Use (the “Terms”) and this document and make sure you understand their contents before you begin. This document is governed by the Terms prescribed by the Company. In the event of any conflict between the Terms and this document, the Terms shall prevail.
1 Company Overview
Binance Japan Inc.
2-10-3, Kojimachi, Chiyoda-ku, Tokyo 102-0083
Cryptoasset Exchange Service Provider (Registration No. 00031, Director-General of the Kanto Local Finance Bureau)
Japan Virtual and Crypto assets Exchange Association, Class 1 Member
2 Transaction Method
With respect to the spot purchase, sale or exchange of cryptoassets, the Company will act as a broker to the cryptoasset exchange (the “Exchange”) and the sales offices provided by its affiliates (the “Binance Group”), and engage in any related management of your money and cryptoassets, sending of your cryptoassets, receipt of cryptoassets on your behalf and other services. However, the Company will not act as an intermediary or agent for any sale, purchase or exchange of your cryptoassets.
The above sale, purchase or exchange of cryptoassets are transactions involving a risk of incurring significant losses due to price fluctuations of cryptoassets. Therefore, when commencing or continuing a transaction, it is essential that you not only read this document but also study fully the mechanism and risks of transactions, and trade at your own risk only when you believe it is appropriate in light of your financial resources, trading experience and trading purpose (“Trading Purposes”). You acknowledge and agree that you are responsible for deciding which transaction method to use and choosing the appropriate transaction method in light of your Trading Purposes. You are also responsible for setting and confirming the parameters and execution method applicable to the transaction method you have chosen, and you should be aware that these choices may affect the fees you incur.
(1) Brokerage to the Exchange
___________________________________________________________________________
1The Company may offer certain Trading Bots utilization services. This allows you to place an order to execute a transaction in a prescribed way, using parameters of your choice or set in advance by the Company and/or Binance Group. In Trading Bots, transactions may continue to be conducted according to your instructions until the relevant transaction is canceled, amended or expires in accordance with the prescribed transaction conditions and other terms.
The Company and Binance Group are not liable for the selection of Trading Bots, or the selected parameters or execution method, regardless of whether such parameters were recommended or entered by default on the platform, unless there was an intentional or negligent act on part of the Company and/or Binance Group. Please use Trading Bots at your own discretion and risk. The Company does not make any guarantees on the outcome of Trading Bots and will not be liable for any losses that may arise from the use of Trading Bots, unless resulting from an intentional or negligent act by the Company and/or Binance Group. The provision of Trading Bots services and the recommended or default parameters set in connection therewith are neither investment advice nor recommendations regarding the transactions to be executed, the use of applicable execution methods, adequacy or suitability. Please read the Binance Japan Trading Bots Terms carefully before using the Trading Bots.
(2) Brokerage to Sales Offices (Convert)
3 Supported Cryptoassets
For information on the cryptoassets supported by the Company, please click here.
4 Method of Depositing Money and Cryptoassets
When depositing money with the Company, please make the deposit from an account in your name to the account at the financial institution designated by the Company.
You are solely responsible for depositing or sending crypto assets to a wallet address different from that specified by us, or sending or depositing legal tender, cryptographic assets, electronic payment instruments, tokens or any other form of payment which the Company does not handle to a wallet address specified by us.
When depositing cryptoassets with the Company, please send them to the wallet address designated by the Company.
The deposit of money and cryptoassets will be deemed to have been made upon the Company’s confirmation and receipt of such money or cryptoassets, not upon your completion of payment or any other procedure. When withdrawing deposited crypto assets, the procedures prescribed by the Company shall be required.
5 Fees
For transaction fees and deposit/withdrawal fees, please refer to the Company website (https://www.binance.com/en-JP/fee/cryptoFee).
In the case of a deposit by means of transfer, you must pay the transfer fee imposed by each financial institution. Fees are deducted from your account when the contract for the order is executed.
When we refund legal tender from your account, any fraction of less than one yen shall be rounded down.
In addition to the above, if the user contract is terminated due to a request to cancel or the like, you must immediately reduce the account balance to zero. If a balance of legal tender or cryptoassets remains in your account after termination and the balance is less than the fee for each sending or withdrawal, the Company will receive from the balance an amount not exceeding the fee for such sending or withdrawal as a fee.
6 Asset Status and Transaction History
For information on the status of your assets and your transaction history, please log into your account and check “Asset Status” and “Transaction History.”
7 Nature of Cryptoassets and Risks to Customers, etc.
(1) Cryptoassets supported by the Company are not Japanese or foreign currencies. Their value is not guaranteed by any particular country or any other person.
(2) Cryptoassets can be used for the purpose of paying consideration only with the consent of the person who receives payment of such consideration.
(3) The value of cryptoassets supported by the Company is not guaranteed by any specific person.
(4) Cryptoassets supported by the Company may become worthless due to the failure of the cryptoasset transfer mechanism or other reasons.
(5) The value of Cryptoassets fluctuates day by day due to not only the supply and demand balance of cryptoasset transactions, but also various changes in the external environment. Natural disasters, wars, political upheavals, tighter regulations, market conditions for other similar cryptoassets and unforeseen extraordinary events can cause the price of a cryptoasset to fluctuate rapidly and fall significantly, resulting in the value of the cryptoasset falling well below its worth at the time of purchase. It is also possible that the value of a cryptoasset may become zero if, for example, measures are taken to stop the exchange of cryptoassets for legal tender altogether. Therefore, the Transaction is subject to a risk of losses arising directly from the price fluctuation of the traded cryptoassets.
(6) Sudden market changes or a decline in liquidity may widen the spread between bids (sale rate) and offers (purchase rate), and any suspension of order acceptance may prevent intended transactions or result in unintended transactions.
(7) The use or holding of cryptoassets in a particular country or region may be restricted by the laws, regulations or other restrictions in such country or region.
(8) Because the cryptoasset transactions provided by the Company use an electronic data processing system to conduct and manage transactions, misusing information and communications networks or information systems may lead to some or all of the cryptoassets being be stolen, thieved, damaged or lost due to so-called cyberattacks such as unauthorized entry, theft, falsification or destruction of information, deactivation or malfunction of information systems, execution of unauthorized programs or DDoS attacks conducted via cyberspace.
(9) In the case of cryptoassets which use cryptography to record transfers, if the information used to decrypt the encrypted data is lost, the cryptoassets may not be transferable to others and their value may be lost. In addition, if such information becomes known to others, the cryptoassets may be transferred regardless of the user’s intention.
(10) Order placement, execution, confirmation, cancelation and other similar acts may not be possible due to a failure of the transaction system or the communication lines connecting the cryptoasset exchange service provider with its customers.
(11) Cryptoasset transactions are not consummated and remain on hold for a certain period of time until the transaction is sufficiently verified (i.e., authentication of transactions on the blockchain). In the case of transfer of cryptoassets between the Company and services other than the Company, there is a possibility that your transaction will not be reflected in your account balance, a possibility that the transfer of cryptoassets sent externally from your account will not be completed, and a possibility that your sending or receiving will be canceled until such transaction has been sufficiently verified in the cryptoasset network. The cryptoasset address specified by the Company is a unique address for each currency. If you do not send or receive the cryptoassets in the correct manner, such as when you send them outside the address managed by the Company or when you receive cryptoassets that the Company does not support, you may lose such cryptoassets and it may not be possible to rescue them.
(12) In the event that a debtor regarding the rights indicated on the cryptoassets becomes insolvent, there is a risk that such right may be damaged. In addition, if the issuer, administrator or other relevant person of a cryptoasset becomes insolvent, there is a risk that the cryptoasset will disappear or the value of the cryptoasset will decrease.
(13) In the event that the Company becomes bankrupt, the money and cryptoassets deposited by users may be incorporated into the Company’s bankruptcy estate, and the Company may not be able to return to users all or a part of the users’ assets.
(14) In the event that the Binance Group, which is our transaction partner, goes bankrupt, etc., the settlement of a user's executed order may remain uncompleted between the Company and the Binance Group. In this case, (a) the Company may cancel the order in accordance with the Terms, and as a result, no settlement is made in accordance with the order, or (b) even if the Company does not cancel the order, due to circumstances such as fluctuations in the value of crypto assets after the order is executed, the Company may be unable to procure all or part of the fiat and crypto assets related to the execution, and the Company may ultimately go bankrupt. .
(15) If the Company loses the cryptoassets deposited by users due to theft or other reasons and has to compensate the users, the Company’s finances may collapse, and it may not be able to adequately compensate the users.
(16) The Company will not be liable for any lost profits of users caused by disasters, communication failures of public lines, delays in recording or processing in the cryptoassets’ value transfer and recording mechanism or other circumstances beyond the Company’s control.
(17) You may incur fees when withdrawing and depositing legal tenders, making sales or purchases between legal tenders and cryptoassets, sending and receiving cryptoassets, making purchases, sales or exchanges between different cryptoassets and paying prices for services resulting from the cryptoassets. In addition, there may be restrictions, such as caps, depending on the authentication level of your account. For information on fees concerning cryptoasset transactions and restrictions based on authentication level, please separately refer to the Company’s website.
(18) The Company has exclusive authority to decide which cryptoassets to support and may, in accordance with laws and regulations, add or remove the cryptoassets that it supports at its sole discretion at any time. In addition, the Company may change the settings of order parameters, including the order size and available tick size for each cryptoasset. The Company will not be liable to you for any such addition, deletion or modification unless there was willful misconduct or negligence on the part of the Company.
(19) Cryptoassets may diverge due to hard forks, soft forks, reorganizations or other similar circumstances (“Forks, etc.”) and cause the cryptoassets to become incompatible with each other, cause transactions to become retroactively invalid or cause the value of the cryptoassets to decline significantly. Around the divergence date and time specified by the Company, in view of these risks, it may not be possible to sell, purchase, exchange, send or engage in similar acts concerning cryptoassets for a period specified by the Company. Whether or not to support the diverged cryptoassets and new cryptoassets emerging from such divergence and if so, how they will be supported will be determined by the Company. Although such case may result in a disadvantage to you, the Company may not be able to take responsibility for any losses incurred as a result of such restrictive measures concerning the transactions. If a phenomenon that will result from a Fork, etc. is identified in advance, the Company will promptly notify you of such fact and how it will be handled via the Company service site or email.
(20) You may not cancel any contracts for any transaction made in your account after the account was opened (i.e., cooling-off).
8 Separate Management
Under Article 63-11 of the Payment Services Act, the Company must manage the legal tenders and cryptoassets that you deposit to the Company (“Deposited Cryptoassets”) separately from its own assets and the Company manages the Deposited Cryptoassets by clearly separating them from its own assets in the following manner. However, such separately managed legal tenders and cryptoassets are not covered by the investor protection fund.
(1) Legal Tenders
Legal tenders are managed separately from the Company’s own funds by placing money in trust with JSF Trust and Banking Co., Ltd and/or SBI Clearing Trust Co., Ltd..
(2) Cryptoassets
Cryptoassets deposited to the Company are managed separately from the assets of the Company and its affiliates and are managed in a way that enables the Company to immediately identify which customer owns such cryptoassets. In principle, all cryptoassets are managed separately in cold wallets. The Company owns and manages all wallets and addresses that the Deposited Cryptoassets are stored in.
9 Response to Blockchain Divergence
(1) In the case that a blockchain concerning the cryptoassets supported by the Company is expected to undergo a large-scale update without backward or forward compatibility of planned protocols (“Hard Fork”) and the case that a new cryptoasset (“New Cryptoasset”) will emerge from the Hard Fork, the Company’s response policy for handling such cases is as follows. In addition, the Company will individually consider and respond to any sudden Hard Forks.
I. How to Notify Customers of Information on Hard Forks
Notifications will be made via email or a post on the Company’s service site.
II. Response to Hard Forks
i. The Company will endeavor to gather information on Hard Fork plans and in the event that it obtains information necessary for you to make decisions on your use of cryptoassets, it will endeavor to provide you with such information as appropriate.
ii. If the Company determines that a Hard Fork may interfere with the preservation of your assets or the performance of its transactions with you, it will take measures in advance to prepare for the occurrence of the Hard Fork, such as suspending all or a part of the provision of services related to the relevant cryptoassets. The suspended services will be resumed only after the Company determines that the risk has been resolved.
iii. In the event that the Company takes measures such as suspending all or a part of the provision of its services, it will notify you in advance unless it is an emergency. The Company will also promptly notify you when resuming the suspended services. Furthermore, if the provision of its services is suspended without a scheduled resumption date, the Company will provide information regarding the expected resumption to you as needed.
iv. In the event that the Company takes measures such as suspending all or a part of the provision of its services, the Company will not be liable for any loss incurred by you due to changes in the price of the relevant cryptoassets during the suspension period.
(2) Grant of New Cryptoassets to Customers in Spot Trading
1. The Company shall not be obligated to grant New Cryptoassets to you in the event that New Cryptoassets are generated.
2. However, if the value of the cryptoassets that the Hard Fork originated from (“Old Cryptoassets”) is recognized to have transferred to the New Cryptoassets, the Company is able to grant New Cryptoassets to you; provided, however, the Company will only grant New Cryptoassets if the following conditions are met, the development to separate the Company’s wallet and your wallet in the Company has been completed and the value of the Old Cryptoassets is recognized to have transferred to the New Cryptoassets. Additionally, even if the Company grants a New Cryptoasset to you, it may decide not to make the New Cryptoasset a Cryptoasset that it supports.
o Measures have been taken to prevent double transfers;
o No mechanism is in place that could compromise your assets;
o The functions of the New Cryptoassets do not induce illegal or wrongful acts;
o The entity that planned the Hard Fork is not suspected of engaging in illegal activity;
o No persons belonging to the entity that planned the Hard Fork is involved in antisocial activities or associated with antisocial forces; and
o The Company otherwise acknowledges at its discretion that the supporting of the New Cryptoassets is unproblematic.
3. If the value of the Old Cryptoassets is recognized to have transferred to the New Cryptoassets, even if the Company decides not to grant the New Cryptoassets, it may, in lieu of granting the New Cryptoassets, deliver to you the Japanese yen equivalent of the New Cryptoassets.
4. The Company will not acquire or dispose of the New Cryptoassets originating from the Old Cryptoassets held by you on the Company’s own account. However, this does not apply to cases where the New Cryptoassets are acquired in advance for the purpose of granting them to you, or where the Japanese yen equivalent of the New Cryptoassets is delivered to you in lieu of granting the New Cryptoassets.
5. If the Company recognizes a specific possibility that a Hard Fork will generate New Cryptoassets and affect the value of the Old Cryptoassets, it will, after picking out information that the Company deems reliable, make efforts to publicize such information by, for example, notifying you in advance about the outline of the Hard Fork plan, a description of the New Cryptoassets that will be generated by the Hard Fork, measures regarding the grant of New Cryptoassets and other relevant information.
6. The Company may charge you for expenses incurred as a result of granting the New Cryptoassets to you and taking other measures necessary to preserve your assets. In lieu of charging you, the expenses may be collected from the New Cryptoassets to be granted to you or the Japanese yen equivalent of the New Cryptoassets to be delivered to you.
10 Setting of PIN and Other Security Matters
You are responsible for setting, managing, and storing your passwords and other login information. You are also responsible for taking the following security measures to protect your account and maintain the security of its access ID:
a. Strictly follow all of the Company’s mechanisms or procedures;
b. Generate strong passwords and maintain the security and control of your access ID;
c. Keep the email account and telephone number that you provided to the Company up-to-date in order to receive any notices or alerts that the Company sends to users;
d. Do not allow remote access or sharing of your computer or computer screen with other users when you are logged on to your account;
e. Remember that under no circumstances will the Company ask users to share their password or two-step verification code; and
f. Log out of the site or platform at the end of each access session.
11 Inquiries or Complaints
(1) If you wish to confirm the details of your transactions or if you have any concerns or complaints, please contact the following:
Inquiries (Department in Charge: Customer Support Department)
Inquiry Form：www.Binance.com/en/support/requests/new
Name: Binance Japan Inc.
Location of Head Office: 2-10-3 Kojimachi, Chiyoda-ku, Tokyo
Reception Hours: 24 hours/day, 365 days/year
(2) Complaints are also received by the Japan Virtual and Crypto assets Exchange Association, a certified association for payment service providers for cryptoasset exchange services.
Complaint Form: https://jvcea.or.jp/contact/form-contact/
TEL: 03-3222-1061
Reception Hours: Monday-Friday 9:30-17:00 (excluding holidays (including makeup holidays) and year-end/New Year holidays (December 29 to January 3))
(3) The mediation and arbitration services of the following institutions are available as a means to resolve disputes between the Company and you:
Contact Point
Contact Information
Tokyo Bar Association, Dispute Resolution Center
6F, Bar Association Bldg, 1-1-3 Kasumigaseki, Chiyoda-ku, Tokyo 100-0013
TEL: 03-3581-0031
Dai-Ichi Tokyo Bar Association, Arbitration Center
11F, Bar Association Bldg, 1-1-3 Kasumigaseki, Chiyoda-ku, Tokyo 100-0013
TEL: 03-3595-8588
Dai-Ni Tokyo Bar Association, Arbitration Center
9F, Bar Association Bldg, 1-1-3 Kasumigaseki, Chiyoda-ku, Tokyo 100-0013
TEL: 03-3581-2249
End
Appendix 1
Crypto Asset pairs
BNB/JPY
BTC/JPY
ETH/JPY
ADA/JPY
SHIB/JPY
SOL/JPY
XRP/JPY
DOGE/JPY
NEAR/JPY
POL/JPY
ADA/BNB
ADA/BTC
ADA/ETH
ALGO/BTC
ASTR/BTC
ATOM/BTC
ATOM/ETH
AVAX/BNB
AVAX/BTC
AVAX/ETH
AXS/BNB
AXS/BTC
AXS/ETH
BAT/BTC
BCH/BNB
BCH/BTC
BNB/BTC
BNB/ETH
BTC/DAI
CHZ/BNB
CHZ/BTC
DOGE/BTC
DOT/BNB
DOT/BTC
DOT/ETH
ENJ/BTC
ENJ/ETH
ETC/BNB
ETC/BTC
ETC/ETH
ETH/BTC
ETH/DAI
LINK/BNB
LINK/BTC
LINK/ETH
LTC/BNB
LTC/BTC
LTC/ETH
POL/BNB
POL/BTC
POL/ETH
MKR/BTC
ONT/BTC
QTUM/BTC
QTUM/ETH
SAND/BTC
SHIB/DOGE
SOL/BNB
SOL/BTC
SOL/ETH
TRX/BNB
TRX/BTC
TRX/ETH
TRX/XRP
XLM/BTC
XLM/ETH
XRP/BNB
XRP/BTC
XRP/ETH
XTZ/BTC
ZIL/BTC
ZIL/ETH
LSK/BTC
LSK/ETH
APE/BTC
RENDER/BTC
GALA/BTC
GALA/ETH
GALA/BNB
MANA/BTC
MANA/ETH
IMX/BTC
GRT/BTC
GRT/ETH
HBAR/BTC
HBAR/BNB
EOS/BTC
EOS/ETH
OP/BTC
OP/ETH
ARB/BTC
ARB/ETH
NEAR/BTC
NEAR/ETH
NEAR/BNB
WBTC/BTC
WBTC/ETH
FIL/BTC
FIL/ETH
SUI/BTC
SUI/BNB
CYBER/BNB
CYBER/BTC
CYBER/ETH
MASK/BNB
APT/BTC
APT/ETH
THETA/BTC
THETA/ETH
SXP/BTC
NEO/BTC
TON/BTC
