Published On: Tue, Apr 17th, 2018

Kraken Exchange Decides to Close down Japanese Operations

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Kraken, the US-based cryptocurrency exchange, has announced their plans of ceasing all of their trading operations in Japan in the near future. 
Release the Kraken . . . From Japan!
The Kraken exchange, one of the larger cryptocurrency exchanges in existence, has just announced that they will be leaving the Japanese market for the time being.
In a report published by Bloomberg, Kraken stated:
Suspending services for Japan residents will allow us to better focus on our resources to improve in other geographical areas. This is a localized suspension of service that only affects residents of Japan and does not impact services for Japanese citizens or businesses domiciled outside of Japan.
This announcement came about due to cited increased operational costs, and Japan’s increasing regulation of the cryptocurrency market may have also been a factor.

Cryptocurrency exchange Kraken is pulling out of Japan
— Bloomberg (@business) April 17, 2018

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