One of the oldest crypto exchanges Kraken announced the termination of work in Japan. Main reason for this decision is called the increased cost of doing business in this country, reports Bloomberg.
The exchange said that it plans to stop all services for residents of Japan until the end of June, but in the future, if the situation changes, it can again return to this market.
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.
Kraken started to operate in Japan since October, 2014. According to Coinmarketcap, Kraken takes the 10th place in the list of exchanges in terms of trading volume.
In March, the exchange closed a number of bank accounts, and also stopped accepting deposits in US dollars, euros and British pounds through the interbank transfer system SWIFT.