Coinbase Approved to Enter Japanese Cryptocurrency Market – Exchanges Bitcoin News

Coinbase is now registered as a cryptocurrency exchange to operate in Japan. The Japanese financial regulator has approved Coinbase to trade five cryptocurrencies.

  • Japan’s leading financial regulator, the Financial Services Agency (FSA), announced last week that it has registered Coinbase as a crypto exchange service provider based on the revised Fund Settlement Act.
  • According to the FSA, Coinbase is approved for trading in Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Sternlumen (XLM) and Litecoin (LTC).
  • The approved company is a Japanese subsidiary of Coinbase Global, a company listed on the Nasdaq.
  • Coinbase had already presented its plan to enter the Japanese crypto market in 2018. The company said at the time that it would “work hand in hand with Japan’s FSA to ensure compliance with local laws at every stage.”
  • Coinbase is also a member of the Japan Virtual and Crypto Assets Exchange Association (JVCEA), a self-regulatory organization. After successfully registering Coinbase with the FSA, the association announced that the company is now its “first class member”. In 2018, Coinbase joined the JVCEA as a “second class member” – the categorization reserved for companies that have not registered with the FSA.

What do you think of Coinbase entering the Japanese crypto market? Let us know in the comments section below.

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