Moreover, the exchange plans to exit Japan by the end of June 2018, however it may come back in the future, Bloomberg cited an emailed statement. This decision will impact only residents of Japan and not Japanese citizens or businesses based out of the country.
According to Reuters, Kraken’s decision comes amid regulatory pressure for tighter standards at Japan’s cryptocurrency exchanges after the USD 530 million theft of digital money from Coincheck at the beginning of 2018, when a hacker used malware to break into its network before stealing an encrypted key and withdrawing digital coins.
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