Golden Finance reported that five years after exiting the Japanese market, Binance has begun to establish a new, fully regulated subsidiary in the country. SEBC will cease its current services by May 31 and reopen under the name Binance Japan in the coming weeks. Users of the exchange's global platform in the country must register with the new entity. The migration will be available after August 1, 2023, and will include new KYC to comply with local requirements. Binance previously revealed that starting in June, any remaining funds on the SEBC exchange will be automatically converted into Japanese yen and transferred to the user's bank account. According to a notice on its website, the exchange will not provide derivatives services in Japan. Binance Global does not accept new derivatives accounts from Japanese users. In addition, after June 9, Japanese residents using the global platform will not be able to add or open new options positions, pending orders will be canceled, existing positions must be closed by June 23, and Binance leveraged tokens will not be available for trading or subscriptions. It is reported that Binance acquired the regulated cryptocurrency exchange Sakura Exchange Bitcoin (SEBC) in November 2022.