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Coinbase gets an official nod from Japanese Regulator to enter its crypto market

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Shivangi Mujumdar Follow

INDIA

Jun, 25 2021

Jun, 25 2021

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Japan financial regulator, the Financial Services Agency has approved Coinbase and given the company an official nod to enter Japanese crypto market. Coinbase is registered under the revised fundamental settlement act as a crypto exchange service provider. Coinbase will trade for cryptocurrencies. Coinbase has become the first western firm to receive such a license. 


Types of trading provided by Coinbase 


Coinbase has received the green light for trade Bitcoin (BTC)ether (ETH), Bitcoin cash (BCH), stellar lumen (XLM), and Litecoin (LTC). These are the trading platform where Coinbase is taking part. 


The approved company is the Japanese subsidiary of Coinbase which is Nasdaq stock-listed company. The revelation of entering the Japanese crypto market was done in 2018. Coinbase wanted to work hand in hand with the Japanese regulator to “ensure compliance with local laws at every stage 

 

Why Coinbase want to Enter into Japanese Crypto market? 

  

Coinbase wanted to accelerate the global adoption of cryptocurrency and has a vision of creating an open financial system for the world. In 2018, under the leadership of Nao Kitazawa, Coinbase opened new office in Japan to lay foundation for Japan’s crypto investors to access a range of Coinbase’s products. Nao Kitazawa is the CEO of Coinbase Japan. Coinbase services in Japan will be provided with Japanese language translations for ease of use 

 

What is special about Coinbase?


Coinbase is one of the largest crypto exchange platforms. It is also a member of the Japan Virtual and Crypto assets exchange association JVCEA. A self-regulatory organization is reserved for companies that are not registered under Financial Services Agency. 


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Shivangi Mujumdar

CBW - External Analyst

INDIA

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