https://www.coindesk.com/cryptocurrency-exchange-kraken-to-shutter-services-in-japan/
Regulations are beginning to become more strict on top of exchanges. Kraken is the worlds tenth largest exchange according to coin market cap. The FSA is cracking down on many exchanges. According to Kraken, the cause of the move is because of rising costs. They noted that maintenance fees were growing far too large however the San Francisco based exchange also mentioned that returning to Japan in the future is not out of the picture. Only time will tell at this point.
Good luck traders,
The Elysian Team
Regulations are beginning to become more strict on top of exchanges. Kraken is the worlds tenth largest exchange according to coin market cap. The FSA is cracking down on many exchanges. According to Kraken, the cause of the move is because of rising costs. They noted that maintenance fees were growing far too large however the San Francisco based exchange also mentioned that returning to Japan in the future is not out of the picture. Only time will tell at this point.
Good luck traders,
The Elysian Team
Seems like Japan's financial services agency is really cracking down on crypto exchanges so far.
They did issue a warning to Binance, just a few weeks before this announcement. I really don't think that shutting their services to one country will reduce their costs that much, especially when you consider the fact that Japan is among the top bitcoin trading nations.
To me, this looks more like Japan's FSA pressuring them into moving away from the Japanese market since they're not really registered or regulated by them, and there may be bigger consequences in the future. But there should still be a lot of native japanese exchanges left, CMIIW.
