but you gotta admit that it looks extremely shady when an exchange is asked to comply with the regulatory rules but instead of doing that they just run the other way and refuse to obey the laws.
i would even consider staying away from any exchange that does that.
Then how about Binance?
![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
March 22:
Contrary to reports from Japanese news outlet Nikkei, Binance has denied rumors that Japan’s Financial Services Authority (JFSA) is planning to issue a warning requiring the cryptocurrency exchange desk to shut down its operation in the country.
March 23:
Cryptocurrency exchange Binance has received a formal warning from Japan’s Financial Services Agency (FSA) for operating in the country without registering with the regulatory agency as a cryptocurrency trading platform.
Binance, the world’s largest cryptocurrency exchange by traded volume, has announced its plan to shift its headquarters to Malta, following an official warning from Japan’s Financial Services Authority for operating without a license.
![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
))))
It's one thing to just run away, but accusing everybody of FUD and lies while you're packing your bags is far worse.
I wonder what is happening in Japan that scares them away, I don't think it's just money, I'll bet it's more that they can't hide some of their dirty business
HitBTC does sound like a right shithole but Kraken have also pulled out. I don't think it's necessarily a reflection of how shit you are, more the profit vs compliance costs. Then again HitBTC would never manage to be not shit so it was never happening for them.
This is from the kraken story
The decision involved careful consideration of revenue against the costs and resources required to maintain service,” the company stated, adding that resources were an especially important consideration during this time in its growth.
......
The government also began suspended operations for two exchanges and warned five others for failing to institute checks and balances in their IT systems that prevented hacks and criminal use of digital money.
No matter how I read it to me it seems like they say they can't offer security for their clients at the level Japan requires so....they will serve only those that don't give a damn about the monthly hack.