Kraken to Leave Japan

One of the oldest cryptocurrency exchange leaves Japan due to increased cost of doing business in the country

17 April 2018 912

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

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.

Exchanges Kraken Blockchain

Kraken to Pay $100k For Info on QuadrigaCX Lost Funds

As reported, the exchange wants to raise awareness of the QuadrigaCX case and draw attention to it

01 March 2019 186

Kraken has announced its willingness to pay a reward of $ 100,000 for information that will help in the search for cryptocurrency assets missing from the Canadian exchange QuadrigaCX.

As stated on the website of the exchange, since 2014, Kraken has invested significant resources and provided expert assistance to the trustee and investigators conducting the case of Mt. Gox, supporting the return of the largest possible number of bitcoins to the lenders of the exchange.

According to the founder, the exchange wants to raise awareness of the QuadrigaCX case and draw attention to it. As Kraken hopes, it will be able to help find at least some or all of the missing customer funds.

Simultaneously, the exchange conducted a podcast with Jess Powell, in which it published the most known information about the QuadrigaCX case and the alleged death of its founder and CEO, Gerald Cotten.

As stated by the exchange, information that will help in the search for missing funds, will be transfered to law enforcement agencies. Remuneration to informants can be paid both in cryptocurrency and in Fiat.

According to experts, QuadrigaCX’s debt to customers is $ 190 million ($ 137 million in cryptocurrencies and $ 53 million in Fiat). Due to unrecorded obligations, this amount may, however, turn out to be $ 6 million higher.