Already operating in 32 countries, US cryptocurrency exchange Coinbase is now expanding to Japan. Japan is one of the worlds largest cryptocurrency markets.
Announced on Monday, the San Francisco based company confirmed the launch of an office in Japan and a plan to work alongside the Financial Services Agency to ensure its compliant with local laws.
Coinbase said in its announcement:
“As in other markets, we plan to take a deliberate approach to our rollout in Japan, which means working hand-in-hand with the Japanese FSA to ensure compliance with local laws at every stage.”
Japan passed legislation in April 2017 to acknowledge cryptocurrencies like Bitcoin as a payment method.
Coinbase, is not only expanding into new markets — it is also continuing to build out its product line that is intended for institutional investors. Coinbase has recently released a suite of products for institutions, developed bank-grade custodial services, and launched a new asset management division.
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If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo.
— Elon Musk (@elonmusk) February 14, 2021
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