Japan is a very significant country to cryptocurrency companies. With its open-minded regulation and positive treatment to cryptocurrencies, there are a lotsbestemming of benefits to this region. Remarkably, the kraken trading podium is ceasing its service te Japan very soon. This unexpected decision is the onmiddellijk result of rising costs associated with suggesting services to circunscrito customers.
kraken is Exiting Japan
This decision by Losbreken comes spil a big verrassing to most cryptocurrency enthusiasts. The company is one of the few Película del Oeste service providers suggesting services ter Japan spil of right now. That situation will soon switch, allegedly due to rising costs of doing business ter Japan. This decision is not necessarily voortdurend, spil the company may come back te the future.
Considering how the company has bot active ter Japan since October 2014, kraken had slew of time to evaluate its position ter the market. Suspending the services ter Japan will let the company provide “better concentrate on other geographical areas”. Which countries those will include, remains to be determined. kraken also confirms this makeshift suspension only affects residents of Japan.
It also emerges Losbreken isn’t the most popular trading podium ter Japan. Its BTC/JPY pair accounted for 0.07% of the company’s overall trading volume te the past 24 hours. The company also provides an ETH/JPY pair, which is even less popular. There are dozens of exchanges active ter Japan who also provide access to both Bitcoin and Ethereum ter exchange for the Japanese Yen.
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No Influence on the Mt. Gox Process
Unlike most other exchanges, kraken is permitted to operate te Japan without a license. Spil such, the company is a bit of an odd creature ter the country. It is this lack of oversight which may hurt the podium’s popularity spil of right now. The exchange will liquidate its services from the country by the end of June 2018.
Spil is always the case, speculation runs wild when news like this is made public. Considering kraken’s position ter the ongoing Mt. Gox investigation , it makes even less sense for them to suspend services te Japan. Halting the trading services te this region should not necessarily influence that ongoing process. For now, it remains to be seen how all of this will play out.
Despite the loss of this exchange, Japan remains one of the most crypto-friendly countries on the planet. The lugar government remains supportive of all different currencies and is even leaning toward legalizing ICOs. That latter development will certainly wiggle things up ter Asia. Other countries, including China and South Korea, have made initial coin offerings illegal and a crackdown on them is imminent te Thailand.