Kraken, a cryptocurrency exchange, will cease operations in Japan

• Brandon Davis
• December 28, 2022
• Crypto, News
• 0 Comments

• Kraken, a U.S.-based crypto exchange, will stop operating in Japan next month, citing a weak and unfavorable crypto market.

• Kraken claimed it’s fully financed to guarantee customers can withdraw funds on schedule.

• Last month, Kraken claimed it would cut its employment by 30%, or 1,100 employees, due to weak digital asset demand.

• According to a statement, Kraken will deregister from the Financial Services Agency (JFSA) on January 31.