Kraken Crypto Exchange Decides to End Services in Japan

Kraken-Crypto-Exchange-Decides-to-End-Services-in-japan

Kraken, the cryptocurrency exchange which is been operating in Japan since October 2014, stated that it will be ending it services in Japan as reported by Bloomberg on April 17.

In a statement by Kraken representatives, they state that their decision to shut down services in Japan is based on the rising cost of doing business there.

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Two exchanges in Japan have shut down recently consider working with regulators for compliance issues. The massive cryptocurrency exchange Binance, which ranks at number one for volume also decided to move away from Japan to their new office in Malta after receiving an FSA notice for not being registered.

Kraken will close trading in Japan near the end of June 2018. Given that they’re leaving the country, the exchange also stated that they are not ruling out the possibility of re-entering Japan’s market in the future.

Kraken cryptocurrency exchange ranks number 10 on the top crypto exchanges by 24 hour volume on CoinMarketCap.

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